10/16: MetroIntelligence Economic Update by P. DUFFY

September retail sales flat from August, up 4.7 percent year-on-year

Advance estimates of U.S. retail and food services sales for September 2018 rose 0.1 percent from the previous month and 4.7 percent above September 2017. Total sales for the July 2018 through September 2018 period (or 3Q 2018) were up 5.9 percent from the same period a year ago.

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Consumer sentiment slips in early October read, but still at elevated levels

Consumer sentiment slipped in early October, although it remained at quite favorable levels and just above the average reading during 2018 (98.5). The small decline was due to less favorable assessments by consumers of their personal finances.

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Atlanta Fed:  Business inflation expectations rise to 2.3 percent over the year ahead

Firms’ inflation expectations increased somewhat to 2.3 percent over the year ahead. Long-term inflation expectations (per year, over the next five to 10 years) increased to 2.9 percent, on average.

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