Today's Economic Data Highlights
CPI and the Reuters/Michigan survey…
8:30: Consumer price index for Aug….Most economists expect food and energy to push the headline index up; in our case increases in both sectors account for about half the expected 0.17% increase. The core index should ease up a bit from the increases seen in recent months.
On headline, GS: +0.17%; median forecast (of 77): +0.3%, ranging from +0.1% to +0.4%; last +0.31%.
On core, GS: +0.10%; median forecast (of 77): +0.1%, ranging from flat to +0.2%; last +0.13%.
10:00 (9:55 to subscribers): Reuters/University of Michigan consumer sentiment for Sep (prelim)…slight uptick? Most forecasters expect another small uptick in this index, perhaps on the back of some very tentative signs of a slight improvement in labor market conditions. The median expectation for inflation five to ten years ahead remains in a tight 2.7%-2.9% range (since November), with the latest reading at 2.8%.
Median forecast (of 65): 70.0, ranging from 68 to 73; last 68.9 (Aug final).
from Goldman Sachs