The fall in retail sales and the deterioration in the international trade balance in December probably won’t ease the current jitters in the financial markets, but the figures aren’t as bad as they look. In fact, the outlook for consumption is arguably brightening and the trade balance is worsening only because businesses are importing more machinery and equipment from overseas.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.