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Investors to track key U.S. data for signs of improvement next week

Publish Date12/08/2012 01:23:07 PM

Last Update12/08/2012 06:28:32 PM

Investors to track key U.S. data for signs of improvement next week

The world`s largest economy is preparing for a full-packed week, covering almost the latest releases from inflation to manufacturing growth and labor markets.

Next week releases will kick off Tuesday, with the Commerce Department`s producer price data at 08:30 EST probably showing wholesale prices in the U.S. eased further in July.

Annual growth in PPI inflation is expected to ease at 0.5 percent rate in July, down from 0.7 percent a month ago, with the less volatile Core CPI slightly down at 2.3 percent from 2.6 percent.

Also at 08:30 EST, another report from the Commerce Department may show that sales at U.S. retailers rose slight in July, following three straight monthly declines.

CPI inflation will follow up next Wednesday, showing that cost of living in the U.S. have likely eased to 1.5 percent, from 1.7 percent in June, with Core CPI steady at 2.20 percent.

On the manufacturing front, the Federal Reserve Bank of New York will report this month`s Empire manufacturing gauge with a little changed reading probably at 7.2 from 7.39.

Industrial production in the U.S. is expected to rise 0.5 percent in July, from 0.4 percent in June, with capacity utilization slightly higher at 79.20 percent from 78.90 percent.

As for labor and housing markets on Thursday, first applications for U.S. unemployment benefits could have risen 5 thousand in the August 11 week, to 365 thousand from 361 thousand.

Moreover, homebuilders in the U.S. probably started houses at slower rate in July, with housing starts at 752 thousand from 760 thousand a month ago.

Building permits, a proxy for future construction in the next three to six months, have likely increased by 0.7 percent to 765 thousand last month, from 755 thousand in June.

Philadelphia`s Federal Reserve Bank will publish its manufacturing index for August with a preliminary reading expected to hit -4, from -12.9 in July.

The University of Michigan`s index of consumer sentiment could notch a preliminary reading of 72.2 in August, compared with July`s reading of 72.3.

Finally, the Conference Board`s index of leading U.S. economic indicators will likely grow 0.20 percent in July, following a 0.30 percent contraction in June.

Traders will be closely watching these economic released throughout the week amid growing belief that the global economy is faltering, so goods news will definitely lift market sentiment and support gains, otherwise, concerns will role and losses will be deeply felt.

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