Retail sales (excluding motor vehicles and fuel) jumped to a 2.96% year-on-year increase for April 2016, climbing back above Core CPI to reflect a real increase.
We are still waiting on light vehicle sales for April. An upturn would indicate reviving consumer confidence in the economy.
An upturn in business sales is also needed, to spur new investment.
Business investment is being held back by the debt incurred from stock buybacks.
Sales haven’t increased because CEOs wrongfully rewarded investors with dividends and buybacks and didn’t invested in their workers or their companies.