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US Retail Sales Contract | Eurozone Inflation Slows
Published April 1, 2019
US retail sales dropped 0.2 percent in February, as consumers pulled back their spending on building materials and groceries, a potential sign economic growth has shifted into low gear as stimulus from $1.5 trillion in tax cuts and increased government spending fades.
Inflation in the Euro area unexpectedly slowed in March to 1.4 percent from 1.5 percent in February, defying expectations for stability, while the unemployment rate remained unchanged in February, preliminary data from the statistical office Eurostat showed.
China’s manufacturing sector saw a surprise return to growth in March following government efforts to boost the economy, a private survey showed on Monday. The Caixin Markit Manufacturing Purchasing Managers Index came in at 50.8 for March.
Oil prices surge further, moving towards 2019 highs, as tight supply and positive signs for the global economy supported prices. WTI crude prices have hit a high of $60.92.