See It Market: 3rd Quarter Earnings Insights As Season Comes To A Close
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Last week gave investors an important peek into the state of the US consumer. Despite historically high inflation and rising interest rates, consumers still appear to be relatively strong, although they continue to be choosy with how they allocate their discretionary income.
PPI and Retail Sales Look Bright, But Consumer Debt is Mounting
Last week there were two economic indicators released featuring October statistics that were a positive sign for consumers. Producer Price Index came in at 8%, below the 8.3% expectation, and showing the fourth consecutive month of declines. Retail sales also reported better-than expected at 1.3%, vs. the 1.0% estimate. Strength was led by large ticket items such as motor vehicles which increased 1.3% and furniture which increased 1.1%.