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Preview: Tonight at 9:30 PM ET, the US will release the September retail sales data, which may strengthen the rate cut expectations for December
BlockBeats News, November 25th, at 9:30 PM Beijing time on Tuesday, the U.S. Census Bureau will release the so-called "horror data" of U.S. retail sales and September PPI data. This data, delayed by over a month due to the government shutdown, is expected to show a slight slowdown in consumer spending in September. This may indicate that U.S. households may have reached their spending limit after experiencing months of inflationary pressures. Additionally, with many employers scaling back hiring, the risk of a cooling in consumer spending remains.
According to a Bloomberg survey's median forecast, economists expect a 0.4% increase in September retail sales, following a 0.6% increase the previous month. Bloomberg economists stated that the labor market conditions have slightly improved after hitting a summer low. However, the October partial federal government shutdown has brought new impacts on hiring and consumer spending. "Overall, we believe the Fed should and likely will cut rates in December to sustain the fragile recovery that began in the summer."
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