Retail sales rose in December by 0.6% following a 0.2% move in November according to Commerce Department data. For 2016 sales grew at a 3.3% pace from 2.3% in 2015.
The Producer Price Index, a measure of inflation, advanced in December by 0.3% matching analyst expectation; the measure gained 1.6% from the prior year approaching the Federal Reserve’s general target of 2.0% inflation. Stripping out volatile food and energy prices, core PPI increased 0.2% from the previous month and 1.6% on the year.
The preliminary January measurement of consumer sentiment from Michigan University remains steady on the expectation of expansionary fiscal policy in the new administration.
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