The Economic Week Ahead……

2. September 2007 by Ana Connell.

                                   
Monday  3

Labor Day!

Tuesday 4

Construction Spending-Consensus 0% Good indicator of the economy’s momentum.

ISM Manufacturirng Index Consensus-53.0 Survey of manufacturing firms that measure their sentiments on a variety of areas including employment, production, new orders and inventories.

Motor Vehicle Sales  Consensus 12.0M

3 & 6 Month Bill Auction
Wednesday 5

House Financial Services Committee holds hearing on recent events in the credit and mortgage markets and potential implications for U.S. consumers and the global economy.

Pending Homes Sales Index-Release from NAR Gauges demand and momentum of housing market

Challenger Job Cut Report Announced corporate layoffs.

MBA Purchase Applications-Measures Mortgage Lender applications, this is considered a leading indicator of single family home sales!

ICSC-USB Store Sales  Tracks comparable weekly sales from major retail chains and represents 10% of total retail sales.  Is considered to be one of the most timely indicators of consumer spending.

ADP Employment Report-National Employment report based on private payrolls

Redbook a timely indicator of consumer spending and also represents about 10% of total retail sales.  This measure tracks weekly sales from discounters, chain and department stores.

Bank of Canada Monetary Policy Announcement

Beige Book

4 Week Auction

Thursday 6

Monster Employment Index Job availability compiled by Monsters from 1500+ websites.

BOE Announcement- Bank of England Monetary Policy

ECB Announcement- Interest Rate policy issued by European Central Bank

Jobless Claims Unemployment claims. Consensus 330K

Productivity and Costs  This report looks at the growth or lack thereof in the efficiency of our labor force relative to the production of goods and services.

ISM Non Manufacturing Survey Consensus 54.5

EIA  Petroleum Status Report-Measures petroleum inventories in the US

3 and 6 month Treasury Bill Announcement  Investors use this data to attempt to predict future Federal Reserve policy.

Chain Store Sales Another indicator of consumer spending trends.

Money Supply

Friday  7

EIA Natural Gas Report

Wholesale Trade-This report is a measure of economic growth in that it looks at sales made and inventories held by wholesalers.

Employment Situation-

Nonfarm Payrolls - M/M change Consensus 100,000 Consensus Range 35,000  to  150,000		Unemployment Rate - Level Consensus 4.7% Consensus Range 4.6%  to  4.8%
Average Hourly Earnings - M/M change
Consensus	0.3%
Consensus Range	0.2%  to  0.6%

Of note from last week was Fed Chairman Ben Bernanke’s speech.

He admitted that the subprime mess has in fact spread to the broader credit markets, which he had previously said would not happen.  He also admitted that the problems in housing and the credit markets could hamper future economic growth, again, a few months ago he had said this would not happen.

Bernanke did not predict the Fed’s next move, but he did promise to provide liquidity through whatever necessary actions may be needed.

There you have it!Have a great week everyone!

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