More Signs of Slowing Growth
New data from Commerce indicates that retail sales fell in June. Sales are still considerably higher than a year ago, but they’ve now fallen for two of the past three months. This may be another tidbit of evidence suggesting that the end of Bush’s big(*) economic boom may indeed be here. Right on schedule.
(*) Note: boom only “big” compared to the horrible state of the economy during the recession; boom not actually big in any meaningful way.