U.S. retail sales saw their best increase since September as Americans purchased cars and other goods, but retail expert Howard Davidowitz, chairman of Davidowitz and Associates, says the big picture isn’t as bright as that might suggest.
According to the Commerce Department sales grew a seasonally adjusted 0.5 % in December as against 0.4% in November, Yahoo Finance reported. And this beat back the 0.2% that most economists had predicted.
But, Davidowitz predicts that the America consumer is unable to recover because there is very little real GDP growth.
“I think the American consumer is going to continue under tremendous pressure,” he says. “The U.S. consumer won’t recover and can’t recover because we have no growth.”
Read More Here.
