Market, that is the title. Retail earnings rolling out this morning. Economic data showing customers are slowing their spending. October retail sales data shows the slowest growth in about six month. Joining us to break it down is michael mckee, Bloomberg Economic and policy correspondent. Michael we call it getting whacked upside the head here in the colonies. In april, just a 0. 3 gain for the month of october, down from 1. 6 in the month of october, with the pendant was at its worst in april. Only five of 13 categories rose last month, compared with 11 of 13 in the prior month. October andm november seems to be getting worse. Jp morgan economists report that chase card spending has fallen notably in the first part of this month. It is, as they say, really dropping off,. That suggests a weaker month ahead. Who knows what will happen with black friday, if anybody cares about that anymore, but it is a clear americans are cutting back. The actual results come a much less meaningful than
Meantime, lets talk about the headlines. Brexit, Prime Minister Boris Johnson and the had a callmmission earlier on in the group agreed to hold two months of talks to talk about a postbrexit trade deal. Boris johnson said there is no reason why they shouldnt get a brexit deal done in july. However, u. K. Has ruled out an extension. We have a political economist joining us, what is your sense of what is going on here . Degree, is there any surprise in the idea that an extension is not forthcoming . I dont think so. What we are seeing is pretty much the same old story, different day. It feels like its 2020 but it feels like its 2018 all over again. The same issues are coming out. You can see that from the eu which is saying we wanted an agreement but not at any price. Both want an agreement but there are stipulations and as we have seen for the last few years and we will continue to see for the next while, there are red lines that are still sticking points that will ultimately they will