Rising producer prices eventually translate into higher consumer prices as businesses are forced to pass on a portion if not all of the price increments to their customers. So what you might be asking, this morning’s PPI indicated that producer prices fell -0.1% on a monthly basis. While this is true the PPI is broken […]
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There is no doubt that this week’s FOMC meeting will steal the economic headlines, however, the result is likely to be rather anticlimactic. I do not anticipate any major changes to the FOMC’s statement, and certainly no shift in the target rate—despite last month’s better than expected employment data. The Fed will not view a […]
The last full week in November brings with it its fair share of economic data, Fed talk, and a few important earnings stragglers. The general themes of the week will be housing, manufacturing, inflation, and the consumer. On the economic front, October’s retail sales—released on Monday—should steal the show, followed up by October’s industrial production […]
September Housing Starts finished the month at an annual rate of 590K (+0.5%). At the same time, August Housing Starts were revised down to 587K versus its original release of 598K. Housing permits declined by -1.2%, to 573K. Unlike starts, August permits experienced a modest upward revision to 580K from 579K. Single-family starts rose +3.9%, […]
August’s Retail Sales rose 2.7%, compared to a consensus forecast of +2.0% and a previous reading in July of -0.1%. The ex-autos component of retail sales came in at 1.1%, versus a consensus forecast of +0.4% and a previous reading of -0.6% in July. Therefore, what is typically a bump in sales due to better […]
After last week’s relatively light economic calendar, the market faces a deluge of data from nearly every facet of the economy. With that said this week’s most closely watched release will likely be Tuesday’s retail sales announcement, which is expected to show a +2.0% gain on the back of increased auto-sales and higher gas prices, […]
Housing starts fell to 0.581 in July compared to 0.587mn. This number was slightly below the market consensus. The 1% drop in starts comes after a 10% increase in July. Single family starts actually rose 1.7%, but this was more than offset by a 13% decline in multi-family starts. Starts fell 16% in the Northeast, […]
Despite a rather hectic week of economic releases; earnings news will likely steal the show this week. Big names on the earnings calendar this week include Goldman Sachs, JPMorgan, Bank of America, Citigroup, GE, Intel, Google, IBM, and Johnson & Johnson. However, a recent mixture of good and bad economic news, including decreasing consumer sentiment, […]