The US: more shopping, higher producer prices
Thursday 18th February 2021There was a strong bounce back in US retail sales in January, helped by the arrival of $600 into most people’s bank accounts. NAB’s Gavin Friend says this is a clear sign of the positive impact of the government’s fiscal stimulus, something that won’t be lost in the negotiations for the next round of support measures. Inflation continues to be a debating point in the US, but the UK’s CPI data today shows it’s far from being an issue there just yet. The Bank of England continues to talk up the UK recovery, helped by the high level of personal savings. We also look at…
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