This morning, the Census Bureau, in its advance report on retail sales, revealed that seasonally adjusted July sales were "virtually unchanged" from June. Expectations were for a 0.2 percent gain, supposedly with "solid upside" potential. Oops. June's result stayed at its previously reported 0.2 percent increase.
Reuters did the "U-word" honors this time out: "U.S. retail sales unexpectedly stalled in July, pointing to some loss of momentum in the economy early in the third quarter." Someone needs to tell the wire service's Lucia Mutikani that no increase means no momentum. Over at the Associated Press, Josh Boak tried the deadpan approach.