The August US retail sales report revealed a 0.1% increase, surpassing the expected 0.2% decline, marking the fifth consecutive August of positive surprises.
The control group measure, critical for GDP calculations, increased 0.3% month-over-month, highlighting a stable economic activity despite mixed market reactions.
Despite better-than-expected retail figures, market expectations suggest continued dovish sentiments ahead of the FOMC meeting, with chances for a 25bp rate cut.
The anticipated FOMC outcome may evoke initial equity market softness, but the 'Fed put' implies a continued medium-term upside as policymakers have ample room to adjust rates.
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