Retail Sales Rose More Than Forecast in Oct.

The video discusses the unexpected rise in retail sales in October, with September figures also revised higher. This increase in consumer spending strengthens the case for the Federal Reserve to consider raising interest rates. The discussion includes insights from Federal Reserve officials on potential economic changes and the uncertainty surrounding future fiscal policies. The video also touches on the importance of stripping out volatile components like fuel and food to better understand core economic trends.

What was the revised percentage increase in total retail sales for September?

• 1.1%

• 0.6%

• 1.0%

• 0.8%

Why do economists focus on the retail sales control group?

• It directly impacts GDP calculations.

• It is unaffected by seasonal changes.

• It is the largest component of retail sales.

• It includes all types of sales.

What items are excluded from the core group to provide a clearer economic picture?

• Automobiles and furniture

• Healthcare and education

• Gasoline and food

• Electronics and clothing

What is the likelihood of an interest rate hike in December according to the WI RP terminal?

• 100%

• 94%

• 75%

• 50%

What is a major factor causing uncertainty in the Federal Reserve's future economic forecasts?

• Global trade agreements

• The fiscal plan for 2017

• Technological advancements

• Changes in consumer behavior