Chain Store Sales up.

Redbook Chain Store Sales (week ended 1/2/2016)

 

– Store Sales year/year  +2.9%. Previous was +2.5%.

This indicates some strength in Consumer Spending and also some post-Christmas discounting.

 

Markets, at present, are not being driven by domestic fundamentals but more by what is happening with China’s economy.  With the Chinese economy showing some weakness the government there is propping up equities.  There is concern that this, along with economies of oil producing nations hammered by low prices, could portend a world recession.