Retail Sales and Industrial Production

We had two economic reports this morning. The first said that retail sales increased by 1.3% in October. Maybe folks are getting an early start on their Christmas shopping. Over the last year, retail sales are up 8.3%. Excluding gasoline, retail sales increased by 1.0%.

There are weak spots out there. Target just bombed its earnings report. The stock is getting punished today.

The other report said that industrial production fell by 0.1% last month. Economists had been expecting an increase of 0.2%. The figure for September was also revised lower. Industrial production is just barely above its pre-Covid level.

Posted by on November 16th, 2022 at 2:23 pm


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