Back
19 Feb 2016
US: Key data for next week - Danske
Analysts from Danske Bank look into next week economic numbers from the US, that includes the consumer spending and personal income report, among other data.
Key Quotes:
“There is a heavy calendar of US data releases in the coming week. We expect February data for consumer confidence to look somewhat weaker, with a decline in the Conference Board’s February measure released on Tuesday, and a downward revision in the final February release from the University of Michigan on Friday.”
“Consumer confidence remains at healthy levels. The continued consumer optimism despite falling equities was reflected in strong January retail sales, and we estimate that overall consumer spending, released on Friday, will show a similar strong gain of 0.5% m/m with personal income increasing 0.3% m/m.”
“The Markit PMI for the manufacturing sector is released on Monday. The PMI has been running at a much higher level than the manufacturing ISM recently and it will be interesting to see if this continued in February.”
“We will get January data on durable goods orders on Thursday. The weakness in durable goods demand has been a major factor behind the downturn in the US manufacturing sector and a turn in demand would be very much welcomed. On Wednesday we will get the non-manufacturing PMI.”
“In terms of the housing market, we expect a decline in home sales in January following the major gains in December. We look for a decline to around 5.25m for existing home sales, released on Tuesday, and a decline to 513,000 for new home sales released on Wednesday.”
“The most interesting speech in the coming week is likely to be that of St. Louis Fed President Bullard on Thursday. This week he gave a very dovish impression, stating that he found it unwise to proceed with the hiking cycle when inflation expectations continued to decline.”
Key Quotes:
“There is a heavy calendar of US data releases in the coming week. We expect February data for consumer confidence to look somewhat weaker, with a decline in the Conference Board’s February measure released on Tuesday, and a downward revision in the final February release from the University of Michigan on Friday.”
“Consumer confidence remains at healthy levels. The continued consumer optimism despite falling equities was reflected in strong January retail sales, and we estimate that overall consumer spending, released on Friday, will show a similar strong gain of 0.5% m/m with personal income increasing 0.3% m/m.”
“The Markit PMI for the manufacturing sector is released on Monday. The PMI has been running at a much higher level than the manufacturing ISM recently and it will be interesting to see if this continued in February.”
“We will get January data on durable goods orders on Thursday. The weakness in durable goods demand has been a major factor behind the downturn in the US manufacturing sector and a turn in demand would be very much welcomed. On Wednesday we will get the non-manufacturing PMI.”
“In terms of the housing market, we expect a decline in home sales in January following the major gains in December. We look for a decline to around 5.25m for existing home sales, released on Tuesday, and a decline to 513,000 for new home sales released on Wednesday.”
“The most interesting speech in the coming week is likely to be that of St. Louis Fed President Bullard on Thursday. This week he gave a very dovish impression, stating that he found it unwise to proceed with the hiking cycle when inflation expectations continued to decline.”