Yesterday’s US retail sales report for September inspired breathless headlines in some corners that consumer spending hit a wall. But a closer look at the numbers still leaves room for a healthy dose of optimism. At the very least, it’s premature to confidently warn that the revival in retail spending that began in 2016 has run its course.
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Budget deficit for US surged to six-year high of $779 billion in fiscal 2018: AP
Saudis reportedly plan to admit that Khashoggi died during interrogation: CNN
US retail sales edged up 0.1% in Sep, well below economists’ expectations: CNBC
Fidelity launches cryptocurrency trading desk for institutions: CNBC
Inflation in China accelerated for fourth straight month in Sep: Bloomberg
ECRI: US housing market at risk of cycle downturn: Bloomberg
NY Fed Mfg Index edges higher, pointing to ongoing strength in sector: MW
Business inventories in US up sharply in August: MW
Gold rises to 2-1/2 month high: $1230 an ounce: