Overview of the week commencing 14 November
Graham Cross, CEO
The week commencing 14 November was all about the US. There was better than expected retail sales growth in the US which, given the oversized contribution to gross domestic product that consumption provides, is good news. The most recent inflation data sees a rise in the core consumer price index at close to target levels. So, a December interest rate rise looks increasingly likely.
Future prospects for US inflation is uncertain. The policy objectives of Donald Trump are likely to be inflationary, including fiscal stimulus, trade tariffs and a hawkish immigration policy.
The week ahead in the UK sees the Chancellor of the Exchequer, Philip Hammond, deliver his first Autumn Statement. We’ll report on the economic aspects next week along with a catch-up on Japanese inflation.