Today's Economic Data Docket - Retail Sales, Producer Prices And Business Inventories

Retail sales, producer prices and business inventories. Also get the final of this week's bond auctions in the form of a $13 billion 30 Year
 
8:30: Producer Price Index (August): Flat headline. We forecast that the August Producer Price Index (PPI) was about unchanged month-over-month. We expect declines on net in the finished food and energy sub-components, reflecting weakness in commodity prices over the last few months. In contrast, we expect a trend-like increase of 0.2% (month-over-month) in the core PPI. Yesterday’s stronger-than-expected import price report suggests some upside risk to our forecasts for the PPI.
PPI: GS: Flat; Consensus: Flat; Last +0.2%.
Core PPI: GS: +0.2%; Consensus: +0.2%; Last +0.4%. MAP: 2
 
8:30: Retail sales (August): Holding up. Goldman forecasts that retail sales held up well last month despite a sharp deterioration in consumer confidence. We forecast an increase of 0.3% (month-over-month) in total sales and a 0.4% gain in “core” sales (ex-autos, gasoline and building materials). Both vehicle sales and the measures of chain-store sales we focus on showed little sign of a drag from sentiment on spending.
Total: GS: +0.3%; Consensus: +0.2%; Last: +0.5%.
Ex-autos: GS: +0.4%; Consensus: +0.2%; Last: +0.5%. MAP: 4
Ex-autos, gas & building materials: GS: +0.4%; Last: +0.3%.
 
10:00: Business inventories (July). The July business inventories report could affect our bean-count estimate of Q3 GDP growth. Recent inventories reports have shown solid growth.
Consensus: +0.5%; last +0.3%.

13:00: 30 Year Treasury auction: Treasury will auction a $13.0 billion reopening of the 3 3/4% of 08/15/41 30-year bond.

Comments

[The Peak Oil Poet]

My favorite blogger is Steve Keen
he's famous now you know
he gets a million hits a week
for what? Gosh i don't know.

But he's predicting everything
will crash and burn in hell
but i suspect he's hedged his bets
(he's jogging now as well)

Chorus

ba-by boomer, ba-by boomer
we'll be dead in the end or maybe sooner
all our money will be gone
our investments all gone wrong
we'll have given up the ghost on just rumour

http://thepeakoilpoet.blogspot.com/