The recent run of forecasts from some corners that a US recession is imminent, or possibly already underway, continue to look premature. Although it’s short-sighted to dismiss various risks that are lurking, which could imperil the expansion down the road, recent data continue to support the case that modest growth rolls on.
Daily Archives: September 18, 2024
Macro Briefing: 18 September 2024
US retail sales rose in August, posting an unexpected increase vs. expectations for a loss. The slight 0.1% monthly advance follows July’s strong 1.0% increase. “The stronger than expected retail sales data for August suggest that, boosted by rapid wealth gains and falling energy prices, consumers continue to spend freely despite the labor market slowdown,” writes Capital Economics North America economist Olivia Cross wrote in a note to clients.
