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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Haim R. Branisteanu who wrote (4216)4/13/2004 10:46:51 AM
From: Robert Douglas  Read Replies (3) of 116555
 
IMHO retail sales were stronger due to early eastern and tax return

That crossed my mind too, but others disagree with this conclusion. The following is the conclusion of John Ryding at Bear Stearns:

the strength of sales in the first quarter despite smaller-than-expected tax refunds suggests that spending is not being driven by a temporary special factor.
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