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No Comeback for Consumers (Because They Never Left)

Retail sales data has been noisy month to month, but the long-term growth trend has been remarkably steady, says Morningstar's Bob Johnson.

Note: Due to his travel schedule, Bob Johnson is giving his weekly economic update in this and an earlier video report. His written column will return on Feb. 20.

Jeremy Glaser: For Morningstar, I'm Jeremy Glaser. We had a strong retail sales report in January. Is this a sign that consumers are coming back, or have they been here the entire time? I'm here with Bob Johnson, our director of economic analysis, for his take.