US growth

James Politi

Another day, another bad report on the state of the US recovery.

Today, it was the US Census Bureau’s report on retail sales for June that ended up disappointing economists, showing a 0.5 per cent drop over the month as well as revisions to earlier data. Clearly, US consumers, who had started to spend again quite aggressively in late Winter, have since retrenched, amid persistently high unemployment and weakness in equity markets.

Yesterday, the bad news had been on the trade side, with an unexpected widening of the US trade deficit as imports, particularly from China, outpaced exports. Read more >>