×

CCTV Script 16/09/16

This is the script of CNBC's news report for China's CCTV on September 16, Friday.

Welcome to CNBC Business Daily, I'm Qian Chen.

U.S. retail sales fell a more-than-expected 0.3 percent in August, the Commerce Department said Thursday.

The control figure also fell, down 0.1 percent versus forecasts for a 0.3 percent increase.

The control figure correlates to consumption in GDP and excludes things like automobiles, gasoline, building materials and food services.

Other data released Thursday included U.S. industrial production, which fell a more-than-expected 0.4 percent in August after a downwardly revised 0.6 percent increase in July.

U.S. producer prices were flat in August, missing expectations for a slight rise.

After the data, Goldman Sachs lowered its third-quarter GDP tracking estimate by one-tenth to 2.9 percent.

The slew of disappointing U.S. data may make the case for the Federal Reserve to raise interest rates at its September policy meeting much harder to make.

Fed officials have previously said their decision was data-dependent.

U.S. equities on Thursday saw the S&P 500 gaining 21.49 points, or 1.01 percent.

The dollar moved little against a basket of currencies. The lack of movement in the dollar followed soft economic data stateside: initial jobless claims came in at 260,000 for the week ended September 10, which was below expectations. The producer price index for August was unchanged and retail sales fell more than expected.

[QUINCY (t) KROSBY, Prudential Financial Market Strategist] "The pkg of data, particularly the retail sales came out, the Fed fund rate just came right down and said, no way are rates going up next week. The big issue though is even with that most likely off the table, the market will be more and more focused on the wording from the FED. In other words, are you going to see a dovish FED or its gonna be a more hawkish hold."

While waiting for monetary policy decisions from the FED and BOJ, investors are watching other important data like CPI, which is scheduled to release on Sep 16.

CNBC's Qian Chen, reporting from Singapore.

Follow CNBC International on Twitter and Facebook.

Contact Business

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    Get these newsletters delivered to your inbox, and more info about about our products and service. Privacy Policy.