Retail Sales And Housing Starts In June Reveal Recovery's Shape
Published Friday, July 17, 2020, 8:30 p.m.
Amid bad news about the Covid crisis, two encouraging signs appeared last week on the economic horizon: retail sales and housing starts. For the 12 months ended June 30, 2020, retail sales rose +2.7%. For the 12 months ended April 30, retail sales revenue had plunged by 18.1%. In the 12 months ended May 31, retail sales rebounded but were still -2.4% lower than they had been a year earlier. By the end of last month, retail sales fully recovered, rising by +2.7% from 12 months earlier. To be clear, retail sales for the 12 months through June were back on...
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