Overseas Headlines – January 18, 2021

United States:

U.S. Retail Sales Post Surprise Monthly Drop to Cap Dismal Year

“U.S. retail sales declined at the close of the holiday-shopping season, wrapping up a painful year for the nation’s merchants as the pandemic forced store closures and kept consumers at home. Total retail receipts decreased 0.7% in December from the prior month after a downwardly revised 1.4% drop in November, Commerce Department figures showed Friday. The median forecast in a Bloomberg survey of economists called for no change in December.”

https://www.bloomberg.com/news/articles/2021-01-15/slump-in-u-s-retail-sales-wraps-up-painful-year-for-merchants?srnd=economics-vp

Europe:

German Inflation Will Turn Positive in January, Bundesbank Says

“Price growth in Europe’s largest economy is likely to be “clearly positive” this month for the first time in half a year, according to the Bundesbank. After the phasing-out of a temporary sales-tax cut and the introduction of an emissions-pricing scheme, the cost of many goods and services in Germany is likely to have risen on an annual basis, the country’s central bank said in a monthly report published Monday.”

https://www.bloomberg.com/news/articles/2021-01-18/german-inflation-will-turn-positive-in-january-bundesbank-says?srnd=economics-vp

Asia:

China’s Growth Beats Estimates as Economy Powers Out of Covid

“China’s economy roared back to pre-pandemic growth rates in the fourth quarter as its industrial engines fired up to meet surging demand for exports, pushing the full-year expansion beyond estimates and propelling its global advance. Gross domestic product climbed 6.5% in the final quarter from a year earlier, pushing growth to 2.3% for the full year. That leaves the world’s second-largest economy driving global growth and potentially passing U.S. GDP sooner than previously expected.”

https://www.bloomberg.com/news/articles/2021-01-18/china-s-economy-grew-2-3-in-2020-accelerating-global-rise?srnd=economics-vp

 

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2021-01-18T07:38:37-05:00