Trend towards weakness “clear” in latest US retail report

18 January 2023

 

Summary: US retail sales up 1.3% in October, greater than expected; annual growth rate slows from 8.6% to 8.3%; figures “point to still-strong consumer demand”; short-term Treasury bond yields up, longer term yields down; rate rise expectations firm slightly; rises in nine of thirteen retail categories; gas station segment largest single influence on month’s result. US retail sales had been trending up since late 2015 but, commencing in late 2018,...

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