December 15, 2022
US Retail Sales Drop Most in 11 Months, Missing Estimates
US retail sales fell in November by the most in nearly a year, reflecting softness in a range of categories that suggest some easing in Americans’ demand for merchandise.
The value of overall retail purchases dropped 0.6% last month after rising 1.3% in October, Commerce Department data showed Thursday. Excluding gasoline and autos, retail sales were down 0.2%. The figures aren’t adjusted for inflation.
ECB Delivers Smaller Hike While Confirming Bond Retreat in March
The European Central Bank slowed the pace of interest-rate hikes while widening efforts to subdue double-digit inflation with a decision to shrink its €5 trillion ($5.3 trillion) bond portfolio from March.
After successive increases of 75 basis points, the ECB lifted the deposit rate by a half-point to 2% on Thursday, matching economists’ expectations.
IPO Pipeline in India Seen Active in 2023 on Smaller Deals
India is expected to see a steady flow of small-to-mid-sized deals next year as investors grow wary about large listings after the disastrous performance of some major technology initial public offerings.
Several of the country’s major startups shed billions of dollars in value since their listing as concerns over high valuations and rising interest rates globally dented demand for technology stocks. The selloff worsened as early investors pared stakes after the end of lock-up periods.
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