Retail Sales Are Back

Moneybox
A blog about business and economics.
Jan. 17 2012 8:39 AM

Retail Sales Are Back

1326807540609

Appropros of no particular news, take a gander at retail sales excluding autos. The shape of the line there is generally what you want to see coming out of a recession. Not just a "return to growth" after bottoming out, but "catch-up growth" that gets you back to trend. For a long time now, the American economy as a whole has achieved the return to growth but not the catch-up. Retail sales, however, have caught up. And business investment is very strong. When we say there's slack and underemployment in the economy, what we're looking at specifically is that construction and auto sales remain depressed.

Matthew Yglesias is the executive editor of Vox and author of The Rent Is Too Damn High.

  Slate Plus
Slate Archives
Nov. 26 2014 12:36 PM Slate Voice: “If It Happened There,” Thanksgiving Edition Josh Keating reads his piece on America’s annual festival pilgrimage.