Sounds pretty grim, doesn't it? Did all those foreboding warnings of supply chain issues, inventory shortages, etcetera actually come true?
- Keep in mind that the folks trumpeting those slumping sales results are comparing each month's retail sales to the previous month. Sure enough, on that basis it is true that retail sales in December were almost 2% less than they were in November.
- However, if you examine the same numbers the way that retailers do– that is, comparing to the same month the prior year – we see a very different story.