Charting the Global Economy: US Retail Sales Point to Resilience

US retail sales posted solid advances in consecutive months for the first time this year, tempering concerns of a retrenchment in spending as consumers remain unsettled by the potential for tariff-induced inflation.

A heavy week of US economic data also showed underlying consumer inflation picked up last month, largely due to an acceleration in the cost of services such as airfares.

Meanwhile, the economy in China experienced a broad slowdown as the country contends with price wars and stiffer US import duties. In the UK, the economy performed better than expected and the labor market showed signs of stabilizing.

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