Retail Sales Reveal Cracks in Economy (5/16/23)

(5/16/23) Home Depot and Retail Sales numbers add their weight to Wall Street: April Retail Sales were lower than expected, rising only .4% from last month (this report was taped prior to numbers' release). Retail Sales make up 40% of personal consumption, which makes up 70% of GDP, so if sales are starting to slow, that does not bode well for economic growth. Hopes and expectations for an earnings trough in Q-4 of 2022, and subsequent earnings growth, has been buoying markets. But if the economy is indeed slowing, the future of earnings will be somewhat bleaker. Easter sales are expected to have boosted activity in April, but lowered tax revenues indicate more Americans are out of work, and lower tax refund checks will mean less spending than expected in April. Markets continue to trade in a range, and price compression continues; markets will soon have to make a declaration to rally for fall, one way or another. Markets are waiting on a catalyst to drive in either direction. Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO Produced by Brent Clanton --------  Get more info & commentary:  https://realinvestmentadvice.com/insights/real-investment-daily/ ------- Watch the video version of this report by subscribing to our new "Before the Bell" YouTube channel:  https://www.youtube.com/watch?v=CU18es76H4U&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1 ------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #InvestingAdvice #RetailSales #HomeDepot #TaxRevenue #ConsumerSpending #EconomicGrowth #Money #Investing