U.S. Retail Sales Data Release Delayed Due to Government Shutdown

According to ChainCatcher, the U.S. Census Bureau is set to release the retail sales data, often referred to as the 'scary data,' at 9:30 PM UTC+8 on Tuesday. The release, delayed for over a month due to the government shutdown, is expected to indicate a slight slowdown in consumer spending for September. This could suggest that after months of inflationary pressures, American households may have reached their spending limits. Additionally, the risk of cooling consumer spending persists as many employers have reduced hiring. Economists surveyed by Bloomberg predict a 0.4% increase in September retail sales, following a 0.6% rise in the previous month. Bloomberg economists note that the labor market conditions have slightly improved after hitting a low point in the summer. However, the partial federal government shutdown in October has introduced new challenges to hiring and consumer spending. "Overall, we believe the Federal Reserve can and likely should cut interest rates in December to sustain the fragile recovery that began in the summer."