U.S. Retail Sales Unexpectedly Jump in Sign of Resilient Demand
“U.S. retail sales rose unexpectedly in August as a pickup in purchases across most categories more than offset weakness at auto dealers, showing resilient consumer demand for merchandise. The value of overall retail purchases climbed 0.7% last month following a downwardly revised 1.8% decrease in July, Commerce Department figures showed Thursday. Excluding autos, sales advanced 1.8% in August, the largest gain in five months.”
Stray Balloon Triggers Chip-Making Outages at German Plants
“Infineon Technologies AG and Robert Bosch GmbH were forced to halt key chip factories in Germany after a power failure, potentially exacerbating a global semiconductor supply crunch. The city of Dresden suffered a large-scale power disruption for 20 minutes from around 2 p.m. on Monday, shutting down Infineon’s factory there until Tuesday evening, a spokesperson said. While Bosch managed to restart operations by late afternoon on Monday, the company said it’s still assessing the damage at its 1 billion-euro ($1.2 billion) factory. GlobalFoundries Inc. said impact at its Dresden plant was limited because of on-site energy supply.”
New Japan PM Unlikely to Set Off BOJ Shift, Survey Shows
“A new Japanese prime minister due to be installed in the coming weeks is unlikely to change fiscal or other policies sufficiently to force the central bank to amend its monetary settings, a Bloomberg survey showed. All-but one of 47 economists expect the Bank of Japan will keep its yield-curve control and asset-purchase programs unchanged at a two-day meeting ending Sept. 22. That’s one week before the ruling Liberal Democratic Party holds a leadership ballot that basically determines the next prime minister.”
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