WHAT YOU NEED TO KNOW
- Retail sales increased by 0.7% in September, defying expectations for a pullback amid supply chain issues, the Census Bureau reported. Compared with a year ago, sales were up 13.9% on the headline number. Experts attribute the uptick to students heading back to school and workers returning to the office.
- China’s gross domestic product growth slowed to 4.9% in the third quarter after industrial activity in the country increased by a smaller-than-expected margin last month. Power shortages and wobbles in the property sector contributed to the Chinese economy’s slowest pace of growth in a year.
- Global stocks and U.S. futures wobble on China growth fears – Fortune
- China Faces Slower Growth Path as It Pursues Longer-Term Reforms – The Wall Street Journal
- @dlacalle_IA : China GDP disappoints. Grew 4.9% in the third quarter from a year ago. That missed expectations for a 5.2% expansion, according to Reuters. Industrial production rose by 3.1% in September, below the 4.5% expected by Reuters.
- Countries are rushing to place orders for the twice-daily antiviral pill called molnupiravir that has been shown to reduce the risk of hospitalization and death among those infected with COVID-19, but obstacles remain for broad access to poorer nations. Pharmaceutical giant Merck, which recently submitted data to the Food and Drug Administration, was criticized two decades ago for selling its H.I.V. drugs at prices unaffordable to Africa.
- Fact check: Merck’s molnupiravir and ivermectin are not the same drug – USA Today
- The success of Merck’s antiviral — and other COVID-19 pills in development — may depend on how quickly people start taking them – MarketWatch
- @daniel_kraft : #Molnupiravir in trial of 775 high-risk, unvaccinated people cut the risk of hospitalization & death in half. Also accelerates the clearance of infectious virus from the nose and throat, indicating that it may also help reduce the spread of the virus.\
- Thousands of workers remain on strike across the U.S. demanding higher pay and better conditions. There have been strikes against 178 employers this year according to one tracker – a trend economists attribute to the Great Resignation. While large-scale strikes have garnered attention, not all work stoppages have been successful. More than 1,000 Alabama miners have been on strike since April and out of 14 oil workers who staged a walkout in New York, eight have been fired.
- Furniture designer Herman Miller said office spaces are trying to remain relevant by making the barriers between the office and other places more permeable. One coworking space in Virginia weathered the pandemic by taking its desks outside. This trend has prompted office architects to experiment with landscaped terraces and open-air conference rooms .
- The big idea: Is the era of the skyscraper over? – The Guardian
- Meet Me in My Office, in Men’s Underwear on 5 – The New York Times
- Resimercial: The Terrible Word for Today’s Trendy Office Aesthetic – The Atlantic
“U.S. retail sales beat expectations for second month in a row” – Axios / Source: FRED, Axios Visuals
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