Spain – United States
Recent data points to a strong start to 2017.
Consumers may finally be putting their confidence to use and spending, as January retail sales rose 0,4% month-over-month, exceeding expectations of a 0,1% month-over-month increase, while December's figure was revised upward from 0,6% to 1% month-over-month. Sales grew 5,6% year-over-year, compared to a mere 3,9% in November. The manufacturing sector is improving, according to two fairly conclusive regional Fed studies, including a surge in the Philly Fed Index to its highest level in 33 years. Manufacturing output grew 0,2% month-over-month, the fifth consecutive increase, although the year-over-year rate remains weak at 0,3%. Inflation rose in January, with consumer prices increasing 0,6% month-over-month, bringing the year-over-year rate to 2,5%; last July it was just 0,9%. Much of the increase was due to energy prices, which rose 4% month-on-month, the fifth consecutive increase, bringing the year-on-year rate to a very high 11,1%. Gasoline prices climbed 7,8% during the month, also marking the fifth consecutive major increase, at a dizzying 20,3% year-on-year. The NFIB Small Business Optimism Index, which hit a record high in December, remained at that level in January as exuberance over "Trumponomics" persists in the business community.
Source: Solunion
Weekly Export Risk Outlook – Euler hermes
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