by Bill McBride on 11/13/2014 07:01:00 PM
Thursday, November 13, 2014
One of the keys in the retail sales report will be sales ex-gasoline. From the WSJ: On Your Shopping List: Three Things to Watch in the Retail Sales Report
[C]onsider retail performance excluding gasoline stations. Retail sales are reported nominally and gas prices have plummeted since June. That means a clearer picture of the consumer sector will come from looking at retail sales excluding gas stations.Friday:
There are two reasons for that. The first is obvious: If gas sales are falling, sales excluding gas are doing better than total sales.
The second reason is that cheaper gas frees up money that can be spent elsewhere. If nongas sales don’t post a solid gain in October, consumers may be saving that extra money.
• At 8:30 AM ET, Retail sales for October will be released. The consensus is for retail sales to increase 0.2% in October, and to increase 0.2% ex-autos.
• At 9:55 AM, the Reuter's/University of Michigan's Consumer sentiment index (preliminary for November). The consensus is for a reading of 87.5, up from 86.9 in October.
• At 10:00 AM, the Mortgage Bankers Association (MBA) Q3 2014 National Delinquency Survey (NDS).
• Also at 10:00 AM, the Manufacturing and Trade: Inventories and Sales (business inventories) report for September. The consensus is for a 0.3% increase in inventories.
Posted by Bill McBride on 11/13/2014 07:01:00 PM