The US economy is recovering from the pandemic, next week’s numbers could show.
Official figures should show that retail sales rose in October to a record high, and are well up on a year ago even excluding online retailing. That means traditional retailing has returned to its – albeit shaky – former health.
Industrial production should also post a small rise. Here, though, the picture is less good. Output is likely to have flatlined since July, at a level some 8 per cent below the pre-pandemic peak.