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13th Sep 2023 19:13U.S., Daily Monitor

  • Core retail sales in August were weaker than the headline, and July’s numbers were revised down.
  • The core PCE deflator likely rose only 0.2% in August, undershooting the core CPI and reassuring the Fed.
  • Higher oil and utilities output will flatter August’s production data; manufacturing output likely was flat.

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Keywords for: 15 September 2023 US Monitor

Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence