US retail sales disappoint with a drop of 0.3%, worse than expected. The small downwards revision does not help. The control group is down 0.1%, much worse than +0.3% expected and with a downwards revision.
Other figures are poor as well. The USD is falling.
US retail sales were expected to rise by 0.1% m/m on the headline figure in August after remaining flat in July. The control group carried expectations for a rise of 0.3% after remaining flat. Lots more data is released at the same time.
If anybody still believes that the Fed will raise rates in less than a week from now, this bulk release of figures is the last chance to receive upbeat data that may justify a hike. Brainard was very dovish earlier this week.
Data (updated)
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