Fundamental Updates \Nick Nasad \ 2:54 PM EST \ March 8th, 2010
US Releases this Week:
Wed. 10AM
Wholesale Inventories (Jan)
Prior: -0.8%
Forecast: 0.2%
2PM
Treasury Budget (Feb)
Prior: -42.6K
Forecast: -199.5K
Thu. 8:30AM
Jobless Claims (Mar 6th)
Prior: 469K
Forecast: 460K
Trade Balance (Jan)
Prior: -$40.2B
Forecast: -$41.0B
Fri 8:30AM
Retail Sales (Feb)
Prior: 0.5%
Forecast: -0.3%
–ex autos
Prior: 0.5%
Forecast: 0.1%
9:55AM
UMich Consumer Sentiment (Mar-p)
Prior: 73.6
Forecast: 73.8
10:00 AM
Business Inventories (Jan)
Prior: -0.2%
Forecast: 0.1%
This will brings further information on US consumer spending and attitudes, as well as the state of inventories – a sector has been at the forefront of the economic recovery.
This week we will see both wholesale and business inventories. On the wholesale level, data on Wedensday, is expected to show that inventories increase 0.2% in January after falling 0.8% in December. Total business inventories, due out on Friday, are forecast to show a 0.1% rise after slipping 0.2% in December. The inventory story has been important because companies slashed stockpiles during the recession and it has been restocking those inventories which has helped lift economic growth in the 4th quarter and now in the 1st quarter. If inventories were to decline it would suggest business are not done drawing down their inventories and could be a drag for growth.
Of importance is how US consumer demand holds up. On Friday we get the February report on retail sales. It wis expected to show a 0.3% decline following a 0.5% rise in January, as motor vehicles sales were weak during the month. With auto’s taken out of the equations expectations are for a 0.1% rise. Also on Friday we will get the preliminary reading of consumer sentiment for March. Expectations are for a slight increase in the index to 73.8, up from the final February level of 73.6.
The US trade balance is expected to remain close to its Decemer level with a deficit around $41 billion dollars. During December we saw good news in that exports rose 3.3% which was the 8th consecutive monthly increase. However the trade gap widened as a result of a higher petroleum deficit.
Look Ahead: US Fundamental Docket for March 8th-12th
Fundamental Updates \ Nick Nasad \ 2:54 PM EST \ March 8th, 2010US Releases this Week:
This will brings further information on US consumer spending and attitudes, as well as the state of inventories – a sector has been at the forefront of the economic recovery.
This week we will see both wholesale and business inventories. On the wholesale level, data on Wedensday, is expected to show that inventories increase 0.2% in January after falling 0.8% in December. Total business inventories, due out on Friday, are forecast to show a 0.1% rise after slipping 0.2% in December. The inventory story has been important because companies slashed stockpiles during the recession and it has been restocking those inventories which has helped lift economic growth in the 4th quarter and now in the 1st quarter. If inventories were to decline it would suggest business are not done drawing down their inventories and could be a drag for growth.
Of importance is how US consumer demand holds up. On Friday we get the February report on retail sales. It wis expected to show a 0.3% decline following a 0.5% rise in January, as motor vehicles sales were weak during the month. With auto’s taken out of the equations expectations are for a 0.1% rise. Also on Friday we will get the preliminary reading of consumer sentiment for March. Expectations are for a slight increase in the index to 73.8, up from the final February level of 73.6.
The US trade balance is expected to remain close to its Decemer level with a deficit around $41 billion dollars. During December we saw good news in that exports rose 3.3% which was the 8th consecutive monthly increase. However the trade gap widened as a result of a higher petroleum deficit.