US RETAIL SALES CONTINUE DOWNTREND

Weekly US chain store sales declined 0.7% last week after a 0.1% gain the previous week. The 4-week moving average has declined for 4 consecutive weeks since peaking on July 30. It is down 2.8% from July 30 and is now only +2.7% YoY.

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Gallup polls confirm the August decline:

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