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Today's Economic Data Docket - With All Eyes On Europe, NFP And Consumer Credit In The US

Tyler Durden's picture




 

With all eyes on Europe today, where the BOE just announced it is keeping rates at 0.50% as expected, the events in the US are jobless claims and February consumer credit.
 
8:20: Richmond Fed President Jeffrey Lacker on financial regulation. Mr. Lacker will also hold a media Q&A at 11:00 today.
 
8:30: Jobless claims (Week of April 2): Edging lower. With an ongoing improvement in activity overall, initial jobless claims should continue to edge lower.
Median forecast (of 44): 385,000; last: 388,000.
 
c. 9:15: GS Retail Index (March). Our retail analysts are looking for this index of same-store sales to drop sharply to -1.4% yoy from +5.0% last month due to a shift in the timing of Easter (and perhaps negative weather effects). We do not see sings of more fundamental weakness in consumer spending.

11:00: Last POMO of this week: Fed buys $5.5-$7.5 billion in bonds due 04/30/2015 – 09/30/2016. There will be no POMO tomorrow
 
15:00: Consumer credit (February): Extending recent gains. Consensus forecasts expect that consumer (non-mortgage) credit increased for a fifth consecutive month in February. Recent consumer credit reports have shown a clear divergence in borrowing activity by type of loan. Non-revolving consumer credit – loans for automobiles, appliances, etc – has begun to increase after declining moderately during and immediately after the recession. In contrast, revolving credit – credit card debt and unsecured lines of credit – has remained on a steep decline (except for a brief increase in December). As a share of disposable income, revolving consumer credit has declined to levels last seen in 1994.
Median forecast (of 32): +$4.6bn; last +$5.0bn.

From Goldman and Zero Hedge

 

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Thu, 04/07/2011 - 07:46 | 1144606 Cash_is_Trash
Cash_is_Trash's picture

BTFD

Thu, 04/07/2011 - 07:48 | 1144609 Sudden Debt
Sudden Debt's picture

The GS Retail Index is a BS number. It will surprise on the upside, but if you look to the numbers of tons moved, it's a totally different story.

Retail sales will be up 7/8% but total volume sales is down 3/4%.

The price increases make up the difference.

 

Thu, 04/07/2011 - 08:21 | 1144669 tek77blu
tek77blu's picture

good interview yesterday on the central banking scams, gold, silver, and mining shares: http://www.youtube.com/watch?v=uDkT8_4tnis

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