Retail sales better than you think

Where is the consumer recession? Retail sales were down 0.4 percent in December, but there is a silver lining here, courtesy of JPMorgan economist Michael Feroli: "It appears that November sales borrowed some from December sales. For the two months taken together, core retail sales increased at a 5.25% annual pace, in line with the trend over the last two years."

From "Capital Commerce" by Jimmy Pethokoukis.