Federal Reserve Bank of Boston President Eric Rosengren said on Friday he welcomes President-elect Joe Biden's proposed $1.9 trillion stimulus package as "big" but "appropriate," and signaled the Fed has no inclination to dial back from its own super-easy monetary policy.
National Retail Federation. * NRF SAYS 2020 HOLIDAY SALES GREW 8.3 PERCENT DESPITE PANDEMIC. * NRF SAYS BELIEVE PRESIDENT-ELECT BIDEN'S STIMULUS PROPOSAL, FURTHER AID FOR SMALL, WILL KEEP ECONOMY GROWING. * NRF SAYS CONSUMERS WERE ABLE TO SPLURGE ON HOLIDAY GIFTS BECAUSE OF INCREASED MONEY IN THEIR BANK ACCOUNTS FROM STIMULUS PAYMENTS THEY RECEIVED.
U.S. consumer sentiment dipped in early January as Americans reacted to the assault on the U.S. Capitol and a relentless surge in COVID-19 infections and deaths, the University of Michigan said on Friday in a report that also showed a deep partisan divide in views on the economy and outlook.
U.S. business inventories increased in November, supporting expectations that inventory investment was likely the main driver of economic growth in the fourth quarter. Business inventories rose 0.5% in November after increasing 0.8% in October, the Commerce Department said on Friday. Retail inventories rose 0.7% in November as estimated in an advance report published last month.
Canadian home sales jumped 7.2% in December from November, setting a new record amid surging demand in the Greater Toronto and Vancouver areas, the Canadian Real Estate Association said on Friday. The industry group said actual sales, not seasonally adjusted, rose 47.2% from a year earlier, while the group's Home Price Index was up 13.0% on a year-over-year basis and up 1.5% from November.
U.S. manufacturing output increased more than expected in December, but disruptions to the supply chain as the relentless pandemic keeps some workers at home could slow production in the months ahead. Manufacturing production rose 0.9% last month after advancing 0.8% in November, the Federal Reserve said on Friday.
The Baltic Exchange's main sea freight index retreated on Friday, but still notched up an over 9% weekly rise driven by strong overall gains in the capesize segment. * The Baltic dry index, tracking rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, shed 38 points, or 2.1%, to 1,754, but firmed 9.2% this week.
Canadian home sales rose 7.2% in December from November, setting a new record amid a surge in demand in the Toronto and Vancouver areas, the Canadian Real Estate Association said on Friday. The industry group said actual sales, not seasonally adjusted, rose 47.2% from a year earlier, while the group's Home Price Index was up 13.0% from last December and up 1.5% from November.
U.S. retail sales fell for a third straight month in December as renewed measures to slow the spread of COVID-19 triggered job losses, further evidence that the wounded economy lost considerable speed at the end of 2020.
* Retail sales fall 0.7% in December. * Core retail sales drop 1.9%; November revised down. * Manufacturing production increases 0.9% By Lucia Mutikani. U.S. retail sales fell for a third straight month in December as renewed measures to slow the spread of COVID-19 triggered job losses, further evidence that the wounded economy lost considerable speed at the end of 2020.
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