Drudge links to a Zero Hedge story, which doesn't use the word "boom". But Zero Hedge doesn't get it right, either. It calls the May 0.8% monthly percentage "surge" in retail sales "the biggest since January 2017" absent the hurricane surge in September 2017. Not true: The actual 0.76% spike in May 2018 was bested by November 2017 at 0.79%. They both round to 0.8%.
But was the 0.8% significant? The only way to know is to look at what has happened in May in the past, and from that we conclude that May 2018 was obviously up but unremarkably so. We did better in May 2008 and 2009 for crying out loud, in the middle of a deep recession, which just proves it takes a while to get people's attention, even after you beat them in the head with a 2 X 4, multiple times.
The bottom line is retail is struggling over the long haul. The trend isn't up even a full half point after 18 years.
Expect Rush Limbaugh to trumpet the fake news nonetheless.
