consumer spending

China Enters 2020 Still (Intent On) Managing Its Decline

By Jeffrey P. Snider|2020-01-17T19:16:18-05:00January 17th, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Chinese Industrial Production accelerated further in December 2019, rising 6.9% year-over-year according to today’s estimates from China’s National Bureau of Statistics (NBS). That was a full percentage point above consensus. IP had bottomed out right in August at a record low 4.4%, and then, just as this wave of renewed optimism swept the world, it has rebounded alongside it. Rather [...]

Neither US Retail Nor Industry Ended 2019 In A Good Place

US retail sales were disappointing in December 2019, though it depends upon your perspective for what that means. Unadjusted, total retail sales were 6.01% more last month than the same month of the prior year. It was the highest year-over-year growth rate since October 2018. The reason was entirely due to base effects. You might remember Christmas 2018 for its [...]

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