Tom Blumer of the Newsbusters web site notes that the business media has reported the August retail sales figures in widely different ways.
Wrote Blumer: “How can this be? Although looking at monthly results is important, the second article covers year-ago comparisons that the AP chose not to report on. 6%-plus year-over-year retail sales increases are way ahead of inflation (to be fair, the Dayton paper should have indicated immediately that the 6% was a year-over-year figure). Since July was so strong, it’s not surprising that there was a bit of a breather in August.
“The second report is the better bet. Too bad most people will only see or hear about the first one.”
Read more here.
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Isn’t it odd that many reporters choose to look at economic numbers on a month-to-month basis but don’t look at corporate earnings that way? If there was a business news god, I'd hope one of his or her 10 commandments would be ... “Focus on year-over-year data, if all possible."