TODAY: U.S. Retail Sales Report
Dear traders,
The Commerce Department will release data on retail sales for November at 16:30 MSK today, which investors will be eyeing for further signs on the strength of the American consumer.
The consensus forecast is that the report will show retail sales rose 0.1% last month, after a 0.8% increase in October. Excluding the automobile sector, sales are expected to increase 0.2%.
Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy. Consumer spending accounts for as much as 70% of U.S. economic growth.
A fourth rate hike for this year is expected later in December, but the road from there is unclear. While Fed policymakers have pointed to three increases in 2019, the market is only anticipating one. (Investing.com)
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