Weekly economic review & outlook
Trade/Brexit news pushes markets to new highs
NOV. 11, 2019
You Need to Know
Week in review
Equity markets move higher to all-time highs
Trade and Brexit optimism has helped to lift equity markets in recent weeks with the S&P 500 index rising to record levels last week.
Services still expanding solidly
The ISM nonmanufacturing index climbed in October, signaling still solid expansion and only a muted impact from the trade war on the service sector.
CPI likely to rebound
CPI growth is likely to rebound to 0.3 percent for October after no change in September. Core CPI inflation is projected to edge higher to a gain of 0.2 percent.
Retail sales down again
Retail sales are expected to drop by 0.2 percent, as the month’s motor vehicle sales number was lower than expected. Retail sales ex-autos should increase by a solid 0.6 percent.
Optimism regarding the potential phase 1 trade agreement between the U.S. and China, along with scheduled Parliamentary elections in the U.K., have helped to lift markets in recent weeks. The S&P 500 index climbed to fresh highs last week after breaking through the July peak in late October. The index has now increased by around 3.5 percent since the initial announcement of the trade deal on October 11.