The case for remaining cautious on the economic recovery grew a bit stronger today with the updates for wholesale prices and retail sales. Both registered declines, suggesting that strategic-minded investors should stay opportunistically cautious.
The economic data in recent months offered reason to think that the deflationary risk might be fading. That hope hasn’t faded entirely, but it’s a tad weaker today than it was yesterday, in light of news that retail sales slipped 1.1% last month and wholesale prices retreated by 1.2% in March.