Higher Retail Sales, Budget Deficits and Treasury Yields
|U.S. Review
Higher Retail Sales, Budget Deficits and Treasury Yields
- Data released on Thursday showed the federal budget deficit was $23.2 billion in December and $225 billion through the first three months of federal fiscal year 2018 as concerns grew regarding a potential surge in Treasury issuance.
- The consumer price index met expectations for headline growth, up 0.1 percent in December, and topped expectations for the core index, which rose 0.3 percent.
- Retail sales growth posted another solid reading in December, suggesting a healthy contribution to GDP growth in Q4 from U.S. consumers.
Global Review
Strong Q4 Economic Data in Europe
- Measures of business confidence have been overstating the strength of the Eurozone economy in 2017, but the disconnect between the “soft” and the “hard” data may be starting to narrow as industrial production in the Eurozone grew strongly in November.
- Incoming data suggest that real GDP growth in the United Kingdom was solid in Q4. Brazilian Economy Continues To Pick Up Steam
- The volume of Brazilian retail spending rose much more than expected in November.
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