This week will see the release of several key economic reports, including some which give key insight into inflationary pressures. The highlight of the first half of the week will be the retail sales report, giving the markets a glimpse at the health of the U.S. consumer. Later in the week, inflation data will dominate, including reading of both wholesale and consumer prices. Industrial production data will also come out at the end of the week.
Tuesday morning will see the release of retail sales data for February. The report is closely watched because consumer spending accounts for two-thirds of the GDP. Economists are expecting the data to show an increase from the previous month.
On Thursday, the producer price index will be released in the morning. The PPI, which measures wholesale inflation, is expected to rise from the previous month. Thursday will also see the release of the Empire State Manufacturing Survey. This regional manufacturing index will give a look at the factory sector in the state of New York.
Friday will see the release of two important economic reports. At 8:30 am ET, the consumer price index will be released. The report is a key gauge of consumer inflation. Economists are predicting that the index will rise at the same rate as the previous month. Also released on Friday will be industrial production data, which measures the output of the industrial sector across the nation. Capacity utilization statistics will be released as well. High numbers for these data points could point to strength in the economy, though they could also indicate possible inflation pressures. Economists predict that the level of industrial production will expand for the month of February, after falling 0.5% in January.
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