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The highly competitive U.S. labor market has hit a nine-month low, as jobless claims totaled a seasonally adjusted 198,000 according to the latest figures by the U.S. Labor Department. Eating from both sides, retail sales rose 0.7% in September and industrial production also increased by 0.3% – showcasing consumer confidence and manufacturing strength, respectively.
The news potentially postures an array of implications for the Federal Reserve’s next move on its interest-rate hike, as recent surveys highlight an future expansion of holiday spending by consumers. With its next decision on Nov. 1 , Federal Reserve Chair Jerome Powell is likely to discuss U.S. economic outlook at a scheduled event in New York .
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