NEW YORK, Nov 17 — A raft of good news about the US economy, including stronger-than-expected retail sales data, boosted stocks worldwide yesterday, even as inflation concerns persist.
The 1.7 per cent jump in US retail sales last month combined with solid earnings reports from big-box chains Walmart and Home Depot speak to the heady attitude of consumers in the world’s largest economy despite global supply chain snarls that have fuelled inflation and created shortages. European Central Bank chief Christine Lagarde and Federal Reserve Chair Jerome Powell have indicated policymakers do not have to act immediately to raise interest rates, though Powell has said the US central bank could move more quickly to remove its stimulus bond-buying programme.
In Britain, Bank of England Governor Andrew Bailey on Monday told British lawmakers that he felt “very uneasy” about high inflation, prompting some analysts to forecast a December rate hike.