Weekly economic review & outlook
Consumer spending wobbles a bit
NOV. 18, 2019
You Need to Know
Week in review
Retail sales up modestly for October
Despite a boost from gasoline and (surprisingly) autos, retail sales were again weaker in October with a modest 0.3 percent increase.
Energy pushes up consumer inflation
The consumer price index (CPI) increased by 0.4 percent for October while the core CPI rose at a trend 0.2 percent rate.
Housing starts likely to bounce back
Housing starts are projected to increase as the multifamily component should rebound from a large drop in September.
Existing home sales up as well
Existing home sales should follow increased pending home sales from August and September and grow moderately for October.
Retail sales rose by a modest 0.3 percent for October to extend the weaker shift in total spending seen in recent months. After posting monthly gains of at least 0.4 percent from March through August, total retail sales flattened out from August through October. The year-over-year growth rate in retail sales has slowed, too, but remains solid at 3.1 percent.