Downhill

Last week saw a plethora of key economic releases, what’s the gist of it? Still a mixed picture. Chinks of light in some areas, but telltale signs of mounting challenges in others. Retail spending was down despite the seasonal boost one would expect from end-of-year holidays, higher rates are crimping demand for credit and draggig down the housing market. Granted, consumer prices are in retreat but too slow for now to actually make a difference on living standards.