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February 22, 2023

Unpacking the latest retail sales, inventory, and industrial production data.

Retail and food services sales for the month of January accelerated 2.96% m/m, following -1.09% in December and -1.07% in November. The largest acceleration came from department stores (+17.52% m/m), followed by food services and drinking places (+7.19% m/m), and automobiles (+6.45% m/m). Source: Macrobond. Since the pandemic started, we have seen similar accelerations in...
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