This just in: CEO Chris Shuba in Financial Planning

Retail sales rose 1.7% in October, helped by online shopping, and beating expectations of a 1.4% rise. Restaurant sales were flat, helping shift consumer dollars online, as well as holiday shopping may have begun earlier this year. September’s figures were revised slightly upwards as well.

The Conference Board’s Leading Economic Index rose 0.9% in October, just barely ahead of estimates. The largest contributor to the gain was from further improvement in jobless claims and slightly dragged down by the worsening consumer expectations we have seen lately.

Industrial production rose 1.6% in October, recovering (and then some) from Hurricane Ida’s hit the month before and ahead of expectations of a 0.9% increase.

The House passed a core piece of President Biden’s economic agenda on Monday, passing the $1.7B Build Back Better Act along party lines and sending it to the Senate, where it may need to be modified further in order to unify the Senate Democrats.