U.S. Economic News

October 15, 2018

U.S. Economic Indicators

Retail sales inched up 0.1% in September and were up 4.7% on the year.  Core sales — which excludes autos, gasoline, building materials, and food services — increased 0.5%. Census Bureau Report

Business inventories rose 0.5% in August and were up 4.1% from last year.  
Manufacturers’ sales increased 0.5% and were up 7.9% on the year. Census Bureau Report

U.S. News

Laura Kusisto of the Wall Street Journal writes that the U.S. housing market is running out of steam but faces a milder slowdown than it did in 2007. Kusisto argues that rising mortgage rates and slowing building activity are likely to worsen in the coming months, but because the housing market has been so slow to recover after the last recession the next slowdown will likely not be as sharp as the last. WSJ

The Wall Street Journal reports that U.S. oil exports to China have collapsed amid the ongoing trade conflict between the two countries. Even though Beijing has not placed tariffs on American crude, the significant uncertainty arising from the trade dispute has caused many firms in China to seek other sources of crude oil because of the possibility that tariffs could be implemented on short notice. WSJ

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