Wave of Data Will Offer Clues to Economic Status
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All eyes will be on the Federal Reserve board meeting Tuesday, but there’s a slew of economic data that will give more clues on the status of the U.S. economy, which has been mired in recession since March.
Among the reports will be key November retail sales figures due ahead of financial markets opening Thursday. The statistics from the Commerce Department are expected to come in weak after a big surge in October fueled by incentives such as zero-cost financing for new cars.
At the same time, inflation data for November--the producer price index Thursday and consumer price index Friday--probably will paint a benign picture, leaving room for further rate cuts.
Friday’s trading session also will digest business inventory data for October and industrial production numbers for November. The latter probably will show a 0.4% fall, but at a slower clip than October’s 1.2% drop.
Other economic reports due this week:
Tuesday, Commerce Department report on industrial production during November.
Wednesday, Commerce Department report on the trade deficit for the third quarter.
Friday, Commerce Department report on total October inventory figures.
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