More Ups Than Downs

(1) Retail sales is one of the three components of business sales. (2) Monthly business sales is a good leading indicator of S&P 500 revenues. (3) The revenues growth cycle may be peaking. (4) The Energy-led growth recession and recovery may have run their courses. (5) After exuberant upward revisions, analysts may be starting to curb their enthusiasm about revenues. (6) US PMIs remain upbeat on S&P 500 revenues growth. (7) GDPNow down to 1.9%. (8) Three explanations for why retail sales were so weak during Q1. (9) Online retail sales now at record 31.0% of GAFO sales.