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Resilient US retail sales suggests Fed decision will be a coin toss
US retail sales in August were stronger than anticipated, rising by 0.1% month-on-month versus the -0.2% consensus, while July's growth rate was revised up to 1.1% from the initial 1% reported. The control group, which excludes volatile items and has a better tracking record for broader consumer spending, grew 0.3% as expected, but again there was a 0.1pp upward revision to July's growth rate – now 0.4%. Industrial production was also stronger than anticipated in August, rising by 0.8% MoM versus the 0.2% consensus forecast. July's contraction is now reported as -0.9% versus -0.6% initially published, but we have ... (full story)
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- Posted: Sep 17, 2024 10:22am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 4,848
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