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November saw a decrease in industrial production and an insignificant rise in retail sales, reports the New York Times. Retail sales moderated after two months of strong increases, as income and household wealth were rising at record highs. “The weak retail sales and industrial output readings reported on Wednesday, however, were unlikely to deter the Federal Reserve from raising interest rates later in the day, against the backdrop of steadily rising inflation and a tightening labour market,” wrote the Times.

"Consumer spending remains the main engine of growth for the economy," Harm Bandholz, chief U.S. economist at UniCredit Research in New York, told New York Times. "Solid employment growth and accelerating wage gains will continue to support household spending, a dynamic that should allow the Fed to raise rates today and encourage them to signal a couple of rate hikes next year."

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Nick Powills

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Nick Powills

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Nick Powills, CFE, founded No Limit Agency in 2008 and serves as Chief Brand Strategist for the Chicago-based firm. No Limit is a full-service communications agency that establishes and elevates brands by bridging Public Relations, Social Media, Marketing, Advertising, Digital, and a lot of creativity, to best strategize well-rounded and successful campaigns for 50+ global franchise brands. By presenting visionary ideas and building real relationships, No Limit is able to create effective media branding strategies to help companies grow. Nick currently leads a staff of writers, media strategists, designers, social media experts and digital producers in an office think-tank where brands are humanized for strong, compelling media stories. Prior to starting No Limit at the age of 27, Nick spent four years working at a franchise PR agency where he mastered the art of building rapport with media outlets and creating newsworthy pitches for earned media placements. He holds a Bachelor of Journalism from Drake University in Iowa.

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