Reported about 1 month ago
Recent retail sales figures have surpassed expectations, indicating robust consumer spending and a strong economy for the third quarter, even amid ongoing macroeconomic concerns. Economist Mike Reid from RBC Capital Markets highlights that while recent job reports showed some summer weakness, current trends suggest consumer confidence and employment are holding steady, which is vital for continued spending. He anticipates the Federal Reserve will initiate rate cuts in the near future, while also noting base effects will play a significant role in economic perception.
Source: YAHOO