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U.S. home sales surged in September as demand remained strong, but sky-high prices made it more difficult for first-time buyers to compete.
Europe’s economic recovery has slowed as factories scramble for parts, but an easing of Covid-19 restrictions has boosted growth in Japan and Australia
Heard on the Street: For retailers that are prepared for the holidays, this will be a December to remember. For those that are not, it will be the season that might have been.
“Real” wages—pay adjusted for inflation—for the lowest-earning tier of workers fell 0.5% in August from a year earlier. That contrasts with 2.1% annual growth in the two years before the pandemic.
Germany managed to keep most of its factories open during the lockdown, while the government has moved aggressively to provide support for businesses and workers. Southern Europe, meanwhile, depends more heavily on tourism, which has dried up.