U.S. Economic News

October 16, 2020

U.S. Economic Indicators

Retail sales rose 1.9% in September and were up 5.4% from a year ago. Core sales — which exclude autos, gasoline, building materials, and food services —  increased 1.4%. Census Bureau Report

Industrial production declined 0.6% in September – the first monthly decline since April – and is down 7.3% year-over-year. Capacity utilization fell 0.5 point to 71.5. Fed Report

Business inventories edged up 0.3% in August but were down 5.5% from August of last year. Manufacturers’ sales rose 0.3% in August but were down 5.3% compared to a year ago. Census Bureau Report

The University of Michigan Consumer Sentiment Index rose 0.8 point to 81.2 in the preliminary October reading but is down 14.3 points from October of last year. The Index of Consumer Expectations rose 3.2 points to 78.8, while the Current Economic Conditions Index fell 2.9 points to 84.9. University of Michigan