"Economists are pessimists: they've predicted 8 of the last 3 depressions."
--Barry Asmus

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Monday, June 13, 2011

What's Happening This Week?

Just a quick look into the future, so you know what to expect in the way of market-moving economic measures.
 
Tuesday brings us the NIFIB Small Business Optimism Index (aka "what sort of mood are half the employers in the United States in"), the  Producer Price Index (aka "What does it cost to make things") and Retail Sales (a quick look at the change in total receipts in stores that sell durable and/or non-durable goods[1]).
 
Wednesday brings us the MBA's Purchase Applications index (a look at the weekly change in the number of new and refinance mortgage applications), the Consumer Price Index ("inflation! Inflation! INFLATION!") and Industrial Production ("now that we know how much more it costs to make stuff, how much stuff are we making?").  Maybe the Empire State Manufacturing Survey ("what do New York manufacturers think about the current economy") and the Housing Market Index ("what kind of demand is there for housing"), depending on how busy I get.
 
Thursday brings us Housing Starts ("how many new homes did we start building"), Jobless Claims ("Yip yip yip yip yip yip, sha na na na na, get a job!  Sha na na na na, sha na na nanana na!") and the Philadelphia Fed Survey ("We're kind of like the Empire State survey, except that people care").
 
And Friday?  Consumer Sentiment and Leading Indicators.
 
So, it's a bit of a busy week.
 
[1]  I used to joke that, if you're including durable and non-durable goods, there's nothing left.  But, it turns out that there are also intangible goods.  Intangible goods are services, things you can't touch/see/eat, like accounting or higher mathematics.  Stuff that's kind of essential to the economy, but isn't really considered to things that are produced.
 
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