5/31/13, "April Core Retail Sales Were Just Revised From A 100% Beat To A Miss," Zero Hedge
"When two weeks ago we reported on the core retail sales "beat", we were surprised. Here's why: "Retail sales ex autos were in line with expectations at -0.1%, on expectations of a -0.2% print, but it was the sales number ex-autos and gas which surprised the most, rising 0.6% on expectations of a +0.3% increase, up from a -0.1% decline." We are no longer surprised. Reuters has the answer:
- US APRIL RETAIL SALES EX-AUTOS/GASOLINE REVISED TO +0.2 PCT (PREV +0.6 PCT)
Of course, the algos who bid stocks up on the flashing read headline of this now outdated and flawed "beat", will certainly go back and sell all the stocks they were otherwise going to buy, since it is now a "miss.""
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