Bank of America: Retail Sales Are Slowing

Given the pin action in retarded retailer, The Gap, I’d say the sloths over at BAC are on to something here.

“Given difficult annual comparisons, this leaves sales down 0.1 percent year-over-year,” writes Deputy Head of U.S. Economics Michelle Meyer.
Lower-income households, which spend a disproportionately higher amount of their take-home pay on fuel, have been registering better annual retail sales growth excluding autos and gas than richer households as oil prices started falling in 2014.

Disconcertingly, this gasoline dividend might have been fully paid.

“In the past few months, spending for the low-end consumer has slowed, falling back below the growth rate of the high-end cohort,” notes Meyer.

Does it even matter anymore? I mean, really, these stocks dive lower upon horrid earnings–only to come springboarding back again when the season is over. We’ve been living in a Peter Pan’d world for over half a decade now. The consumer has been dead for years. But, now, the sages at BAC are onto something, eh?

Fuck off.