U.S. Outlook: September bounce intact
Coming off a weak August, the data we have received so far for September shows economic growth bounced back decisively last month.
For a look at more of the key developments, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on Oct. 7.Key observations:
- September’s total vehicle sales outpaced expectations, jumping up 4.4% from the month before.
- The most exciting economic news in my mind was the ISM non-manufacturing survey for September, which jumped far more than any analysts expected.
- The next hurdle will be retail sales, producer prices, and import prices that will be released next week.
- The Fed funds futures implied probability of a rate hike by December increased to 63.1% this week.