PPI and Retail Sales Dominate The Calendar
Dec 8th, 2008 | By Christian Hill | Category: Financial NewsThe economic calendar starts very slow this week, with only the Pending Home Sales report coming on Tuesday. Once Wednesday morning rolls around, it’s a mad dash to the finish with 11 reports coming in the last three days of the week.
The reports that matter most come on Friday morning before the market opens.
Friday is when the PPI and Core PPI figures for November are announced, and it is a mixed bag. The Core PPI figures (which exclude food and energy costs) are expected to show a modest increase of 0.20 percent. The PPI figure is expected to show a decline of nearly two percent. This is the direct result of the continued slide in energy prices. The price for energy goods dropped 12.8 percent in October, and I would expect a similar drop this month.
Simultaneous to the PPI announcement on Friday morning are the Retail Sales figures for November. Not surprisingly, the report is expected to show another decline, although not as bad as the October report. With limited access to credit, consumers aren’t buying much right now even though we are approaching the holiday season. The report could get a slight upward bump due to slightly better than expected Black Friday sales. The real interesting report will be next months’ when all holiday sales are figured in.
The final bit of information this week is the December Michigan Sentiment Report. Somehow, someway, in the face of a recession, the report is expected to post an increase this month. It must be the holiday cheer.
Source: PPI and Retail Sales Dominate The Calendar
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