U.S. data for retail sales has been suspended as a result of the government shutdown. That’s come just as consumer confidence figures dropped by their fastest rate since July 2015 in December. At the same time seaborne imports relating to four major consumer durable retail categories – which represented 27.1% of U.S. imports in 2018 – surged 15.6% year over year in December. Growth was fastest in furniture which at 23.6% may reflect an acceleration in imports ahead of a now-postponed hike in tariffs. Imports of electronics and appliances climbed 6.5% while apparel increased by 9.1%. Giv...
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