Data from last week and expected data this week does confirm our forecast.

The recent acceleration in the economy has been driven by consumption . The data from last week indicated this surge in final demand is not slowing. Retail sales for the first month of the fourth quarter was reported as having risen by a large 0.8%. That number overstates the rate of growth in consumer spending since it includes a jump in auto sales and building materials. These two sectors have since turned down in November.

 

ProBank Austin Advisor - November 19, 2018