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Retail Sales Rise? Not in California Where Sales Tax Collections Plunge Amazing 40% Year-Over-Year

by Mike Shedlock
MISH’S Global Economic Trend Analysis

On Tuesday we heard news that July retail sales rose, breaking a three-month downtrend.

Doug Short at advisor Perspectives has a great set of charts in his report Retail Sales: At Last, an Improvement!

Doug puts the improvement in proper perspective. However, my first thought in reading the report was “July sales will be likely revised lower“.

Now I’m Wondering “What’s Going on in California?”

My change in perspective come from looking at California State Finances for July 2012.

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