US: Retail sales and industrial production in focus this week - NBF

In the US, industrial production may have risen moderately in June, echoing a slight expansion of output in the manufacturing sector, according to analysts at National Bank Financial.

Key Quotes

“Also in June, retail sales likely grew for a fifth consecutive month thanks in part to an increase in auto sales. Excluding autos, sales may have proved slightly less vigorous with declining pump prices putting a dent in gasoline station receipts.”

“We’ll also get housing data for June, with a decrease expected for housing starts following an outsized jump the prior month.”

“The first clues on the state of the manufacturing sector in July will be available with the publication of the Empire State and Philly Fed manufacturing surveys.”

“Finally, the Fed will issue the latest edition of its Beige Book. On Tuesday (July 17th) Jerome Powell, the Fed’s Chair, will deliver his semi-annual report on the economy and monetary policy before the Senate Banking, Housing, and Urban Affairs Committee.”