Retail sales beat this morning as economic activity recovers due to fears of Bidenflation going hypersonic. Industrial production also beat after several misses, while inflation numbers continue to skyrocket ahead of consensus expectations.
Anxiety over ‘supply chain issues’ into the Christmas holidays also has shoppers in a buying mood, to ensure gifts for the kids and to beat expected price increases. This type of behavior is common in developing economies where hyperinflation is just a fact of life.
Export Price Index (YoY) (Oct) printed at 18% vs 16.5% consensus estimate.
Import Price Index (MoM) (Oct) printed at 1.2% vs 1% estimate.
Export Price Index (MoM) (Oct) printed at 1.5% vs 0.9% estimate.
Import Price Index (YoY) (Oct) printed at 10.7% vs 09.1% estimate.
Retail Sales (MoM) (Oct) printed at 1.7% vs 1.4% estimate.
Retail Sales ex Autos (MoM) (Oct) printed at 1.7% vs 1% estimate.
Retail Sales Control Group printed at 1.6% vs 0.9% estimate.
Redbook Index (YoY) (Nov 12) printed at 14.7%.
Capacity Utilization (Oct) printed at 76.4% vs 75.9% estimate.
Industrial Production (MoM) (Oct) printed at 1.6% vs 0.7% estimate.
Business Inventories (Sep) printed at the estimate of 0.7%.
NAHB Housing Market Index (Nov) printed at 83 vs 80 estimate.
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