U.S. Outlook: The slog continues

Scott Anderson
Posted by Scott Anderson
Chief Economist

After all the recent good economic news in recent weeks, the retail sales decline in December was a disappointment.

Bar graph showing monthly retails sales in 2014, with red dips in Jan and Dec.It was the biggest monthly slump since January 2014. What happened?

For a detailed look, see my full weekly analysis. Highlights are outlined below, followed by a link to the full U.S. Outlook report, delivered on Jan. 16.

Key observations:
  • We’ve lowered our estimates of real GDP for 4Q to 3.2%.
  • Deflationary pressures continue to build; December’s drop in wholesale prices was the largest monthly stumble in 3 years.
  • Small business optimism increased the most since October 2006.
  • Job openings in November reached the highest level since January 2001.

Click here to read my full report.

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