USA: DISAPPOINTING ECONOMIC DATA. see the slow details, no V-shaped shooting for the industry
The second wave of covid-19 and an absolutely not brilliant economic situation make the USA show worrying economic results both from the point of view of retail sales and industrial production.
Let's start with retail sales. Their value was not what was expected, in fact, it was rather disappointing:
The summer rebound has worn off. After the surprise surge in retail sales in September, analysts had expected a significant slowdown in growth in October, but the data was even worse with U.S. retail sales only up 0.3% on monthly basis (vs + 0.5% on a monthly basis) and last month's increase was significantly revised downwards (from + 1.9% on a monthly basis to + 1.6% on a monthly basis). The effects of closedown are also felt on the categories that are sold more or less: sports clothing, clothing in general and furniture in decline, while online sales are growing at the expense of those in stores. Bezos Ride.
Even industrial production is not giving any satisfaction:
After the disappointing collapse in September, analysts had expected US industrial production to rebound moderately in October and did so, rising 1.1% on a monthly basis (versus + 1.0% expected).
The main figure of industrial production in the United States is still down by 5.34% on an annual basis… In short, there has been no V-shaped recovery, there will be no return to pre-crisis production, which in any case was already slowing down. At this point, whatever government will establish itself in the US, it will have to face a very difficult economic situation because the recovery will not be natural, it will have to be "Pulled" by the government's economic policies. For now Biden is thinking of an "Economy against racism". better start evaluating something very effective, and immediately.
Thanks to our Telegram channel you can stay updated on the publication of new articles of Economic Scenarios.
The US article : DISAPPOINTING ECONOMIC DATA. see the slow details, no V-shaped shot for the industry comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/usa-dati-economici-deludenti-vednite-al-dettagli-lente-niente-ripresa-a-v-per-lindustria/ on Tue, 17 Nov 2020 17:26:28 +0000.