Money Minute Thursday 17 October: retail sales may paint a gloomy picture

Today in the UK, we get the latest retail sales figures. In August, sales were down month on month, though were still up by 2.7% on the previous year.Sales for September are expected to have fallen again various trade bodies have reported gloomy survey findings in recent months.

Over in the US, we have a raft of data, including figures on the number of new homes being built, measures of manufacturing industry health, and the usual weekly initial jobless claims.Overall, the data is likely to paint a picture of continued consumer strength, combined with a struggling manufacturing sector.

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