Core retail sales were softer than forecasts
Overall retail sales rose 0.8% in October, stronger than forecasts. Headline retail sales were boosted by a price-related surge in gasoline station sales (which will likely reverse in November given the drop in gasoline prices) and a jump in building material sales (which are not included in GDP). Core retail sales were softer than expected but are still consistent with a solid gain in real PCE early in the fourth quarter
RDQ Economics provides global macroeconomic consulting services with an emphasis on U.S. economic fundamentals and monetary policy.
Our views are driven by consistent application of classical economic and monetary principles and has generated superior anticipation of changes in the stance of monetary policy and of movements in economic growth and inflation.
The founders of RDQ Economics, John Ryding and Conrad DeQuadros, have a combined experience of 26 years on Wall Street, 12 years of experience in central banking at the Federal Reserve and the Bank of England and nine years in the independent research space. John and Conrad have worked closely with fixed income, foreign exchange, and equity traders and portfolio managers, which has enabled their analysis and advice to be tailored to a clientele that is focused on trading and investment decisions.
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