Gain in U.S. Retail Sales Underscores Solid, Steady Consumer
“U.S. retail sales rose unexpectedly in June, reflecting fairly broad gains across spending categories and wrapping up a solid quarter for household demand. The value of overall retail purchases advanced 0.6% last month following a downwardly revised 1.7% drop in May, Commerce Department figures showed Friday. Excluding autos, sales jumped 1.3% in June.”
BOE Asset-Buying Risks Stoking Prices, Inequality, Lords Say
“The Bank of England’s asset-buying program risks stoking inflation, widening inequality and has done little to boost economic growth since it began over a decade ago, members of Parliament’s upper chamber concluded. The House of Lords Economic Affairs Committee, which includes former BOE Governor Mervyn King, also said quantitative easing poses a “serious danger” to the public finances because debt held by the central bank is sensitive to the interest-rate increases that may be needed to stop prices rising too quickly.”
China Growth Forecasts Raised as Consumer Spending Strengthens
“China’s better-than-expected economic data in June and a stronger pickup in consumption prompted several economists to raise their growth forecasts for the rest of the year. Standard Chartered Plc, JPMorgan Chase & Co and ING Bank NV upgraded their projections, citing surprisingly strong activity last month and the central bank’s shift away from a policy tightening bias.”
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.