Overseas Headlines – October 16, 2020

United States:

U.S. Retail Sales Rise Most in Three Months, Topping Estimates

“U.S. retail sales rose in September at the fastest pace in three months, topping forecasts and capping a third-quarter rebound for consumer spending that faces increasing headwinds. The value of overall sales increased 1.9% from the prior month after a 0.6% gain in August, Commerce Department figures showed Friday. The median estimate in a Bloomberg survey of economists called for a 0.8% gain. Excluding autos and gasoline, sales rose 1.5%.”



Europe Is Losing Fight to Stay Open on Record Virus Surge

“European leaders from London to Berlin face an alarming reality: lockdowns are creeping back on the agenda as the pandemic threatens the continent again. It’s a scenario many ruled out after the summer, when coronavirus cases were receding across Europe and borders were re-opening. A resurgence was expected, but the conviction was that a targeted approach would do.”



What to Watch in China GDP Data as Economic Rebound Strengthens

“China is the only large nation that is expected to grow this year, with booming export demand driving an industrial rebound and the nation’s control of the Covid-19 outbreak allowing it to also reopen the domestic economy. Data for the third-quarter due next week are predicted to show gross domestic product regaining all the ground lost in the first half of the year, according to a Bloomberg survey. Industrial output is forecast to continue its V-shaped recovery and retail sales are set to continue growing, although they’re still well below the level in 2019.”




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