8 posts
by Skanda Amarnath — 2 min read

Lessons From Jan Retail Sales - The Implications of Base Effects and Residual Seasonality

Retail sales showed strength in January. As a proxy for gross labor income trends, it confirms both (1) the resilience we're seeing in the labor market and (2) the amplified role of residual seasonality (December understates growth, January overstates/rebounds). Real-time data-watching...

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