Today's Economic Data Highlights
Industrial production, homebuilder sentiment, the TICS data, and a Fed speech…
9:00: TICS long-term inflows for Aug…Only one forecaster currently on the Bloomberg list, expecting +$50bn vs. a previous of +$61.2bn.
9:15: Industrial production and capacity utilization for Sep…another small gain? Although hours worked in manufacturing slipped in September, most other indicators—in particular the production indexes of business surveys—suggest that industrial output continued to increase last month.
On production, median forecast (of 63): +0.2%, ranging from -0.3% to +0.4%; last +0.2%.
On capacity utilization, median forecast (of 54): 74.8%, ranging from 72.5% to 75.1%; last 74.7%.
10:00: Housing market index for Oct….stabilization? Analysts continue to expect this index to turn up slightly from a very low level. So far, post the homebuyer tax credit, these forecasts have been too optimistic.
Median forecast (of 40): 14, ranging from 12 to 15; last 13.
12:55: Atlanta Fed President Dennis Lockhart speaks on the economy….to the Savannah Rotary Club, Savannah, GA. Like many other Fed speakers of late, he will probably use this opportunity to express his views on whether the FOMC is justified in adopting QE2, which looks virtually sure to happen in early November. Mr. Lockhart’s next turn as a voting member of the FOMC comes in 2012.
from Goldman Sachs