USA • Retail sales rose just 0.3% in November, less than the median economist forecast calling for a +0.8% print. The previous month’s result, meanwhile, was revised up from +1.7% to +1.8%. Sales of motor vehicles and parts edged down 0.1%. Even without autos, sales still expanded 0.3% as advances for gasoline stations (+1.7%), food/beverages [...]
USA • Core CPI inflation slowed slightly from October but remained hot at 0.5% MoM. As expected, motor vehicles once again pushed core goods prices higher. New vehicle prices rose 1.1% while used car and truck prices rose 2.5% for the second month in a row. On the services side, shelter costs continued their steady [...]
USA • Nonfarm payrolls rose just 210K in November, a lot less than the +550K figure expected by consensus. Partially compensating for this disappointing result, the prior months’ results were upgraded by 82K. The private sector added 235K jobs. Employment in the goods segment sprang 60K thanks to gains in manufacturing (+31K) and construction (+31K). [...]
