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\u2019s bank accounts. NAB\u2019s Gavin Friend says this is a clear sign of the positive impact of the government\u2019s fiscal stimulus, something that won\u2019t 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\u2019s CPI data today shows it\u2019s 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 the latest FOMC minutes, out only moments ago. And at home, we can expect a strong increase in jobs, helping Australia claw back the losses made last year. Tonight it\u2019s US jobs numbers and housing starts.
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