— Lauren Lyster (@LaurenLyster) February 15, 2013
We don’t need to wait around for the macro data to tell us that the economy is slowing. The signals are coming loud and clear from the micro data. Bloomberg reports:
Wal-Mart Stores Inc. had the worst sales start to a month in seven years as payroll-tax increases hit shoppers already battling a slow economy, according to internal e-mails obtained by Bloomberg News.
“In case you haven’t seen a sales report these days, February MTD sales are a total disaster,” Jerry Murray, Wal-Mart’s vice president of finance and logistics, said in a Feb. 12 e-mail to other executives, referring to month-to-date sales. “The worst start to a month I have seen in my ~7 years with the company.”
Reuters reports on state sales tax revenues, which are a key gauge of consumption: