Economic tailwinds from lower energy prices
Economic tailwinds from lower energy prices? Not yet: US retail sales plummeted by 0.9% in December. The figure, well below the downwardly-revised 0.4% increase of November and expectations for a decline of 0.1%, was the largest month-on-month percentage decline seen since January 2014. Mirroring the move in the headline figure core sales, that which excludes auto purchases, fell by 1.0% following a downwardly-revised 0.1% increase in November, with the contraction the largest recorded since March 2009. While far too early to call a trend, if the Fed are looking for economic tailwinds for consumption based on lower gas prices, it clearly isn't evident yet. (VIEW LINK)
David is a Director of Scutt Partners Pty Ltd and has successfully worked in the financial services markets over the past 12 years with both large and smaller banking groups. He has provided strategic financial analysis for currency and interest...
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