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15th Feb 2023 16:28U.S., Daily Monitor

  • The spike in January retail sales was driven in large part by warm weather; the trend is still slowing.
  • The pace of the unwinding is uncertain; best to assume a hefty increase in real Q1 consumption.
  • Falling margins ought to drive below-consensus PPI numbers for January.

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Keywords for: 16 Feb 2023 US Monitor

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