Weekly Market Snapshot – August 17, 2020
Created by: Sam Tenney
- Consumer Price Index (CPI) numbers for July have come in at +0.6% annualized inflation increase. Food continues to be the major drive for this increase, with a 4.1% growth in July.¹
- Chinese Retail sales data fell -1.1% for July, marking the seventh straight month of negative growth in Chinese Retail sales. This highlights the devastating effect the Coronavirus has had on China’s economy.²
- New weekly US jobless claims have dropped below 1 million for the first time since March. This shows that while Covid-19 shutdowns continue to effect businesses and the economy, these effects may be slowing.³
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