0.1% slip in US October retail sales; still suggests positive consumption growth

15 November 2023

 

Summary: US retail sales down 0.1% in October, fall smaller than expected; annual growth rate slows to 2.5%; NAB: suggestive of still-positive consumption growth heading into holiday season; US Treasury yields up noticeably; 2024 rate-cut expectations soften; lower sales in seven of thirteen categories; motor vehicle & parts dealer sales largest single influence on month’s result. US retail sales had been trending up since late 2015 but, commencing in late...

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