U.S. Economic News
September 14, 2018
U.S. Economic Indicators
Retail sales edged up 0.1% in August and were up 6.6% on the year. Core sales — which excludes autos, gasoline, building materials, and food services — also inched up 0.1%. Census Bureau Report
Business inventories rose 0.6% in July and were up 4.3% from last year. Manufacturers’ sales were unchanged but were up 9.7% on the year. Census Bureau Report
Industrial production rose 0.4% in August (up 4.9% Y/Y), after increasing 0.4% (revised) in July. Capacity utilization rose 0.2 point to 78.1 in August. Fed Report
The University of Michigan Consumer Sentiment Index rose 4.6 points to 100.8 in the preliminary September reading, and is up 5.7 points on the year. The Index of Consumer Expectations increased 4.0 points to 91.1, while the Current Economic Conditions Index jumped 5.8 points to 116.1. Report
U.S. News
The Financial Times reports that President Trump has lowered expectations of a potential new round of trade negotiations with China. Although Treasury Secretary Mnuchin has reached out to his Chinese counterparts to open trade dialogue again, President Trump says that the U.S. feels no pressure to make a deal because U.S. markets are surging and China’s markets are collapsing. FT