January 16, 2025
United States:
US Retail Sales Broadly Advance, Capping a Solid Holiday Season
US retail sales broadly advanced in December, indicating strong consumer demand to wrap up the holiday season.
The value of retail purchases, not adjusted for inflation, increased 0.4% after an upwardly revised 0.8% gain in November, Commerce Department data showed Thursday.
United Kingdom:
UK Growth Disappoints in First Month After Reeves’ Budget
Britain’s economy narrowly returned to growth in November but fell short of expectations as the country struggles to shake off concerns that it’s in the grip of stagflation.
Gross domestic product increased 0.1%, below forecasts for 0.2% growth and following contractions of 0.1% in both September and October, the Office for National Statistics said.
Asia:
BOJ Sees Good Chance of January Hike Barring Trump Surprises
Bank of Japan officials see a good chance of an interest rate hike next week as long as the arrival of Donald Trump at the White House doesn’t trigger too many negative surprises, according to people familiar with the matter.
BOJ officials acknowledge there’s a likelihood the rate will be raised from 0.25% at the end of its two-day meeting on Jan. 24, unless Trump ruffles markets or changes expectations about the global economy at the start of his presidency, the people said.
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