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An inflated view of performance is good, if you’re well adjusted. Let’s be real: retail sales were better but not encouraging. Ad agency and graphic design employees may finally set a new record in 2016.
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About Dr. Joe Webb
Dr. Joe Webb is one of the graphic arts industry's best-known consultants, forecasters, and commentators. He is the director of WhatTheyThink's Economics and Research Center.
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Discussion
By John Zarwan on Feb 22, 2016
retail sales includes gasoline. So falling gasoline prices will depress sales. (Even if one eliminates this sector, gasoline makes up a substantial portion of other retailers' sales---Costco is the largest purveyor of gas in the US, and now that Wal-Mart is taking over their stations from Murphy, I imagine they'll become at least the second)
By Joe Webb on Feb 22, 2016
The declining gas price was supposed to stimulate the sales of other goods. That price drop was supposed to be like "a tax cut" for consumers. Instead, they've been using it to pay off debt (aka goods and services purchases made in the past). I've never been comfortable with the idea of this concept that if energy prices drop consumers will fill in the gap with different purchases. One of the things they've been buying with the savings is the increased costs of health insurance, not part of retail sales, which have weighed retail sales growth down for a while.