Fisher Investments Reviews: Last Week in Markets—October 7 - October 11

In the US, September consumer inflation rose 0.2% m/m and 2.4% y/y and core consumer inflation—which excludes food and energy—rose 0.3% m/m and 3.3% y/y. Monthly data is volatile, but inflation’s trend remains down. For more, please see our 10/10/2024 commentary “Too Much Fighting the Last War on Inflation.”

In the UK, August industrial production rose 0.5% m/m and fell 1.6% y/y. August manufacturing production rose 1.1% m/m and fell 0.3% y/y. August GDP expanded 0.2% m/m and 1.0% y/y. In the eurozone, August retail sales rose 0.2% m/m and 0.8% y/y.

In Japan, September bank lending rose 2.7% y/y. In China, September loan growth rose 8.1% y/y. September money supply (M2) grew 6.8% y/y. September consumer inflation rose 0.4% y/y.

The Week Ahead:

The US reports September retail sales and September manufacturing production. The US and China report September industrial production. The UK reports the August unemployment rate. The UK and China report September retail sales. The UK, eurozone and Japan release September consumer inflation. The eurozone and Japan report August industrial production. The European Central Bank meets to set monetary policy. Japan and China report September trade data. China releases Q3 2024 GDP growth and the September unemployment rate.

Source for all data cited is FactSet. This update constitutes the general views of Fisher Investments and should not be regarded as personalized investment advice. No assurances are made we will continue to hold these views, which may change at any time based on new information, analysis or reconsideration. In addition, no assurances are made regarding the accuracy of any forecast made herein. Global equities are represented by the MSCI World Index. The MSCI World Index measures the performance of selected stocks in 23 developed countries and is presented net of dividend withholding taxes and uses the maximum rate applicable to non-resident institutional investors who do not benefit from double taxation treaties. Past performance is no guarantee of future results. A risk of loss is involved with investments in stock markets.