by Bill McBride on 11/10/2012 01:10:00 PM
Saturday, November 10, 2012
• Summary for Week Ending Nov 9th
Several economic reports this week will be impacted by Hurricane Sandy including retail sales, weekly unemployment claims, and the regional NY and Philly Fed manufacturing surveys.
The key report for the week is retail sales for October. For manufacturing, the November NY Fed (Empire state) and Philly Fed surveys, and the October Industrial Production and Capacity Utilization report will all be released this week.
On prices, CPI for October will be released on Thursday.
Also Fed Chairman Ben Bernanke speaks Thursday on "Housing and Mortgage Markets".
4:00 AM ET: Eurozone Finance Ministers Meeting
8:30 AM: Producer Price Index for October. The consensus is for a 0.1% increase in producer prices (0.1% increase in core).
8:30 AM ET: Retail sales for October will be released. Note: Retail sales (especially auto sales) were impacted by Hurricane Sandy.
This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline). Retail sales are up 24.6% from the bottom, and now 9.0% above the pre-recession peak (not inflation adjusted)
The consensus is for retail sales to decrease 0.2% in October, and for retail sales ex-autos to increase 0.1%.
10:00 AM: Manufacturing and Trade: Inventories and Sales for September (Business inventories). The consensus is for 0.6% increase in inventories.
2:00 PM: FOMC Minutes for Meeting of October 23-24, 2012.
8:30 AM: Consumer Price Index for October. The consensus is for CPI to increase 0.1% in October and for core CPI to increase 0.1%.
8:30 AM: NY Fed Empire Manufacturing Survey for November. The consensus is for a reading of minus 9, down from minus 6.2 in October (below zero is contraction).
10:00 AM: Philly Fed Survey for November. The consensus is for a reading of minus 1.0, down from 5.7 last month (above zero indicates expansion).
1:20 PM: Speech, Fed Chairman Ben Bernanke, Housing and Mortgage Markets, At the HOPE Global Financial Dignity Summit, Atlanta, Georgia
This shows industrial production since 1967.
The consensus is for no change in Industrial Production in October, and for Capacity Utilization to decrease to 78.2%.