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Transcripts For BLOOMBERG Bloomberg Markets Balance Of Power 20240713

Retail sales were down over 13 16. 4 is the most on record. Of the 13 categories, only one was up, internet shopping. What we bought we did buy online. Even Grocery Store sales down 12 on the month. I guess we are still eating the macaroni and cheese we bought in march. The control group, leave out food, cars, gasoline, building materials. That was down and that is also a record. That is the part that goes into gdp and in this case does not go into gdp. Not the only data out. Industrial production down 11 . Manufacturing production down 13. 7 . That was the worst number in the history of the index going back to 1919. Two bits of good news. Empire manufacturing improved. 78. 2. 48. 5 from the Michigan Sentiment number. From 71. 8. To 73. 7 the Current Conditions index rises. Everybody scratches their head, but the folks at the university of michigan say it is because during the month people started getting the checks, the 1200 checks and that made them feel little bit better about thems

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