Bloomberg Daybreak: Europe Edition Daybreak Weekend: U.S Retail, ECB Meeting, TSMC Earnings
Apr 11, 2025
Geetha Ranganathan, a Bloomberg Intelligence Analyst specializing in U.S. Media, dives into key retail sales trends amidst rising tariffs. Jane Lanhee Lee, North Asia tech reporter, highlights TSMC's ambitious investments in U.S. chip production and their impact on the semiconductor landscape. Yanna Randow, an ECB reporter, discusses the European Central Bank's strategies and potential rate cuts in response to global trade tensions, shaping monetary policies in uncertain times. Together, they weave an intriguing narrative of economics and industry.
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March Retail Sales Boost
- March retail sales showed strong nominal growth due to consumers front-loading purchases before tariffs hit.
- Despite a good March, Q1 consumer spending slowed significantly compared to Q4 last year.
Tariffs Hinder Growth and Inflation Control
- Trade uncertainty heavily dampens business investment and consumer confidence.
- Tariffs increase inflation and reduce GDP growth, complicating the Fed's inflation goals.
Auto Market Facing Tariff Impact
- Auto sales spiked before tariffs but are expected to cool with risks trending downwards.
- Higher input costs likely push auto prices up despite recent slight price declines.