U.S. Retail Sales Jump as Delta Shifts Spending Back to Goods
“U.S. retail sales unexpectedly increased last month in a broad advance, suggesting resilient demand for merchandise even as production constraints limit supply. The value of overall retail purchases increased 0.7% in September following an upwardly revised 0.9% increase in August, Commerce Department figures showed Friday. Excluding autos, sales increased 0.8% in September.”
Two BOE Officials Push Back on Talk of Imminent U.K. Rate Hike
“Two of the Bank of England’s policy makers signaled they’re in no rush to raise interest rates, the first signs of a push back against market expectations for a move by the end of the year.”
China’s Economy Is Showing Strain From Property to Energy Crises
“China’s economy is being hit from all sides — a property slump, energy crisis, weak consumer sentiment and soaring raw material costs — and government data Monday will show just how bad things are looking. Economists surveyed by Bloomberg predict a slowdown in gross domestic product growth to 5% in the third quarter from 7.9% in the previous three months, and a weakening in monthly industrial production and investment figures in September. Retail sales may show a pickup after a major virus outbreak was contained.”
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