Indicators
Soft Retail Sales, Fewer Jobless Claims Paint Mixed US Economic Picture
- Core retail sales data shows household spending muddling along
- Gain in factory output belies surveys that show moderation
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A barrage of data Thursday offered a mixed view of the US economy in the face of rapid inflation, including more tempered retail activity and a labor market that’s still vibrant.
Retail sales indicated spending on goods, while far from collapsing, is moderating. And applications for unemployment insurance dropped for the fifth straight week, suggesting demand for workers remains healthy. Several manufacturing reports, including a modest gain in factory production, were also mixed.