Market watchers are preparing for an important week ahead with several key economic reports expected. Among the highlights are the December Consumer Price Index (CPI), Existing Home Sales data, and November Retail Sales statistics. Additionally, figures for New Home Sales for September and October will be released, providing insights into the housing market trends.
Economists anticipate a 0.4% increase in retail sales, which reflects consumer spending habits and overall economic health. The monthly retail sales figures, adjusted for seasonal variations and food service, are critical as they also indicate trends over time, dating back to 1992.
On January 14th, the housing sector could see interesting developments with Existing Home Sales projected at an annualized rate of 4.23 million, a slight uptick from the previous month’s 4.13 million, as reported by the National Association of Realtors (NAR). Graphical data from the NAR illustrates existing home sales trends, providing context for the latest numbers.
Moreover, on the same day, the Federal Reserve is set to release its Beige Book, offering an informal overview of economic conditions across its various districts. This report is keenly awaited for insights into consumer sentiment and business perspectives.
In manufacturing news, the Industrial Production report is scheduled for release on January 16th, with expectations of a 0.2% rise. Capacity Utilization is projecting to hold steady at 76.0%. These indicators will help gauge the manufacturing sector’s performance. Furthermore, the New York Fed’s Empire State manufacturing survey and the Philly Fed manufacturing report are expected, with consensus predictions indicating slight changes in sentiment.
Overall, the upcoming economic releases will offer a comprehensive look into consumer spending and manufacturing trends, crucial for assessing the current state of the economy and potential future directions. As the market digests these figures, there remains a sense of cautious optimism regarding recovery and growth as consumer confidence continues to stabilize.