December 17, 2024
United States:
US Retail Sales Beat Forecast on Jump in Car Purchases
US retail sales increased at a firm pace in November, bolstered by a surge in car purchases that masked more mixed spending elsewhere.
The value of retail purchases, not adjusted for inflation, increased 0.7% after a revised 0.5% gain in October, Commerce Department data showed Tuesday. Excluding autos, sales climbed 0.2% for a second month.
Europe:
German Business Outlook Slumps Amid Economic Uncertainty
German business expectations sank in December, highlighting the challenges for Europe’s top economy with snap elections likely to bring a change of government.
An expectations gauge by the Ifo institute slumped to 84.4 from 87, the Ifo institute said Tuesday. Analysts polled by Bloomberg had predicted a slight uptick and none saw a retreat of that scale.
Asia:
Yen’s Slide Brings It Near Closely Watched 155 Level Before BOJ
The yen’s rapid decline in the past week toward 155 against the dollar has strategists warning that further weakness may trigger verbal intervention from authorities and add pressure on the Bank of Japan to hike interest rates.
The yen has tumbled about 2.8% against the dollar so far this month, one of the worst performances among major currencies.
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