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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.

Week Ahead

Forecasts

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.

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