Find The Major Economic Trend Hidden In This Picture
Major economic trends are always in front of us, hidden in plain sight. The spectacular real retail sales growth trend is in this picture, but you won't see it unless you know to look for it.
Real retail sales are spectacular, adjusted for inflation. Since March 2019, real retail sales shot almost straight up in a short time and were already at a record territory for several years.
Retail sales are a proxy for consumer strength and consumers drive 70% of the economy. So, this is an influential trend. However, unless you know to adjust retail sales for inflation, you would miss the trend. That's how the media reported it.
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