Economic activity in the Kentucky-Tennessee-Alabama-Mississippi region rose for the second straight month in November, based on trucking activity, suggesting we're wrapping up 2011 on the front foot. That trailed only the Mountain West and Mid-Atlantic.

In their notes, Pulse of Commerce Index researchers note that there is a pretty big disconnect between its data and real retail sales. That, they say, could leave some bargain-hunting shoppers out in the cold.

[T]he combination of strong sales growth and weak inventory growth suggests that retailers will have greater pricing power this December and less unsold inventory. This sequence of events may suggest that retailers have learned to better manage their inventory, explaining the disconnect between the PCI and real retail sales numbers. Shoppers can then anticipate fewer bargains in the month ahead, and relatively little stock left for the after-Christmas sales.