In view of analysts at Nomura, this week will be important for evaluating momentum in Q4 for the US economy with particular focus on the release of October retail sales and industrial production data.
Key Quotes
“We expect the October report to show robust retail sales, consistent with elevated consumer optimism and a strong labor market.”
“We will also get October’s CPI report where we forecast a 0.231% m-o-m increase in core CPI, translating to 2.2% on a 12-month basis, in line with our medium term inflation outlook.”
“Finally, there is some risk that early manufacturing surveys for November deteriorate further while remaining in expansionary territory.”
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