The economic headlines return with Retail Sales, Imp-Ex price indices, Buisiness Inventories and more Fed speeches
8:30: Retail sales (January): Upside risks. Goldman believes that healthy chain-store results, an improvement in vehicle sales and favorable weather all point to a meaningful rebound in January retail sales. As such it forecasts an above-consensus increase in total retail sales of +1.2% (month-over-month), and expects strength in the underlying components as well.
Total: GS: +1.2 %; Consensus: +0.8%; Last: +0.1%.
Ex-autos: GS: +0.8%; Consensus: +0.5%; Last: -0.2%.
Ex-autos, gas & building materials: GS: +0.6%; Consensus: +0.4%; Last: -0.2%.
8:30: Import/export price indexes (January). Higher commodity prices. Consensus forecasts expect a 0.3% (month-over-month) increase in import prices, likely on the modest pickup in commodity prices over the last two months. The recent depreciation in the trade-weighted dollar will likely not affect import prices until next month’s report.
Consensus: +0.3%; last -0.1%.
8:45: Philadelphia Fed President Charles Plosser on the economic outlook. Q&A expected.
10:00: Business inventories (December). Not a market mover, but this report could affect tracking estimates of Q4 and Q1 GDP growth.
Consensus: +0.5%; last +0.3%.
17:40: Atlanta Fed President Dennis Lockhart on the economic outlook. Q&A expected.
Source: GS