Next week’s U.S. data releases should point to continued resilience in consumer spending, with October retail sales expected to rise 0.2%, while housing activity remains constrained by high mortgage rates. We expect housing starts to rebound 4.0% to 1,270K after three consecutive declines.
Abroad, inflation takes center stage, with firm readings across Canada, the U.K. and Japan likely to keep further tightening in play. Meanwhile, softer activity data in China should reinforce concerns around persistent weakness in domestic demand.
