Editor's Note: Below is a brief excerpt and chart from today's Early Look written by U.S. Macro analyst Christian Drake. Click here to learn more about the Early Look.
Black November! You know how anyone under ~35 years old doesn’t know why there are like a million AA automotive garages (for the age deficient => it’s because back when people used to actually look up merchants in the phone book, you would be listed first if you were A … but then someone realized they could jump to the top if they were AA …. then AAA and so on).
Anyway, Black “Friday” is the new “AAA automotive” as e-commerce and ultra-fast delivery increasingly diffuse purchase activity. Retail Sales went full E-tard in November with headline sales rising +5.8% Y/Y (fastest since March 2012) and control group sales accelerating to +4.8% Y/Y. Those same dynamics – coupled with decade highs in consumer confidence and 2-month reacceleration in revolving credit growth - probably buttress December spending as well.
