The US economic profile hit some turbulence in yesterday’s updates on retail sales and consumer inflation in January. The surprisingly soft spending data suggest that the macro trend has moderated in the kickoff to 2018 while pricing pressure can no longer be counted on to remain unusually low. Reviewing the latest reports in terms of annual changes raises fresh concerns for the months ahead, but it’s still premature read the updates as clear warning signs for the economy.
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Shooting at Florida high school claims 17 victims: Sun Sentinel
S. Africa’s president resigns, leaving a challenge for successor: Bloomberg
US consumer inflation up more than expected in January: Reuters
US retail spending was broadly lower in January: USA Today
Weak retail sales and higher inflation may overstate macro headwinds: Bloomberg
BofA Merrill Lynch survey: 70% of fund managers see trouble ahead: MarketWatch
Dec US business inventories increased more than expected: MarketWatch
Businesses’ Year-Ahead Inflation Expectations Hold Steady: Atlanta Fed
Revised data shows Eurozone Q4 GDP growth was strong at 0.6%: RTT
GDPNow estimate for US Q1 growth decelerates to 3.2%: Atlanta Fed