The retail sales control group – the components of retail sales that feed straight into the GDP calculation – rose at a pace of 2.4% in December, the lowest since 2009, and dropped 0.3% sequentially, the biggest drop since December 2011. What this means is that GDP growth – expected to be flourishing until recently and which Joe LaVorgna has at about 4% for 2014 – is about to be monkeyhammered. Why? Snow in the winter, of course.
via Zero Hedge http://ift.tt/1g1sWh8 Tyler Durden