Overseas Headlines – September 21, 2020

United States:

U.S. Consumer Sentiment Climbed to a Six-Month High in September

“U.S. consumer sentiment increased more than expected in early September to a six-month high as Americans grew more upbeat about the economy’s prospects. The University of Michigan’s preliminary sentiment index for September advanced to 78.9 from a final August reading of 74.1, according to data released Friday. The median estimate from economists surveyed by Bloomberg was 75. The measure of expectations rose 4.8 points to 73.3, also a six-month high, while a gauge of current conditions increased 4.6 points to 87.5.”



U.K. Retail Sales Continue Rebound

“U.K. retail sales extended their recovery in August as a government initiative to boost the hospitality industry lured locked-down Britons out to the shops. The volume of goods sold in stores and online rose 0.8% from July, the Office for National Statistics said Friday. It marked a fourth month of growth following an unprecedented slump in April, after the government ordered most stores to close to help fight the spread of coronavirus. Sales excluding auto fuel rose 0.6%, stronger than economists forecast.”



Bloomberg New Economy: China is Winning the Trade War With Trump

“After four years of relentless effort by President Donald Trump to push back against China, his campaign reached new heights (or lows) Friday when he sought to ban new downloads of WeChat, China’s ubiquitous messaging and payments app, and the wildly popular video-sharing app TikTok. Nevertheless, the final scorecard is already in: On just about every metric that matters, China is ahead. At every turn, Trump seems to have been outplayed and outsmarted throughout the global trade war that began shortly after he took office.”




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