After last week’s disappointing economic calendar, it may be tough for the market to get up off the mat this week, says Christian Hill in his weekly round-up of the week’s economic data.

Tuesday morning the housing figures for the month of July come out starting at 8:30 AM, and they are likely to disappoint.

Building Permits are expected to show a slowdown of approximately 150k units. Couple that with the 100k drop in Housing Starts that the market is expecting, and the housing market looks to be back in the doldrums.

The Core PPI Index announcement on Tuesday is expected to match last month’s increase of 0.2 percent. The PPI Index is expected to come in well below last months report.

If last week’s CPI reports are any indication of what this week’s PPI reports will reflect, this could get really bad. Last week’s two CPI reports came in worse than expected, with the CPI Index coming in double what the market anticipated. This could indicate that the PPI reports are going to disappoint.

The final report of note this week is the Philly Fed Report on Thursday. The report is expected to show contraction this month, albeit less than last month. Since this report surveys purchasing managers, it could be construed as an improving manufacturing sector.

Source: The Market Needs To Get Off The Mat