Today's Economic Data Docket - Lots Happening

In addition to the usual headline barrage from a broke continent, the first of many, we have a very busy data schedule, highlighted by October retail sales.
8:00: Chicago Fed President Charles Evans on “Discussion of the Fed’s Dual Mandate”.
8:30: Retail sales (October): Unchanged. Chain-store sales results for October point to a cooling in retail sales growth after a strong September.  Goldman forecasts flat growth rates for both total and non-auto sales.
Total: GS: Flat; Consensus: +0.3%; Last: +1.1%.
Ex-autos: GS: Flat; Consensus: +0.2%; Last: +0.6%. MAP: 4
Ex-autos, gas & building materials: GS: Flat; Last: +0.6%.
8:30: Producer Price Index (October): Vehicles volatility? Watch out for heightened volatility in the Producer Price Index (PPI) report, which is frequently skewed by the roll out of new model-year vehicle during the month of October. Don't expect any large change in vehicle prices to be repeated in subsequent months.
PPI: GS: +0.1%; Consensus: -0.1%; Last +0.8%.
Core PPI: GS: +0.1%; Consensus: +0.1%; Last +0.2%. MAP: 2
8:30: Empire State Index (November): Another improvement? Consensus forecasts look for an improvement in the Empire State index for November. This timely measure of manufacturing activity was about unchanged over the preceding three months. 
Consensus: -2.0; Last -8.5. MAP: 2
8:30: St. Louis Fed President James Bullard on “The Economic Outlook and Monetary Policy”.
10:00: Business inventories (September). Not a market mover, but the non-auto retail inventory component could have implications for revisions to Q3 GDP growth.
Consensus: +0.1%; last +0.5%.
10:05: San Francisco Fed President John Williams on the economy.
11:00: Chicago Fed President Charles Evans interviewed on CNBC.
12:30: Dallas Fed President Richard Fisher on “Too Big to Fail”.


No comments yet! Be the first to add yours.