This Week in Business: Retail sales, home sales, industrial production
Retailer checkup
The Commerce Department releases U.S. retail sales data for September on Tuesday.
Economists expect that Americans increased their purchases at retailers by 0.3% last month, which would mark a slowdown from August. Retail sales have been mostly edging higher through the second half of 2023. Wall Street will be closely watching for any signals that consumers are pulling back on spending.
Retail sales, monthly percent change, seasonally adjusted:
April: 0.4
May: 0.7
June: 0.2
July: 0.5
Aug.: 0.6
Sept. (est.): 0.3
Source: FactSet
Manufacturing bellwether
The Federal Reserve issues its monthly update on industrial production Tuesday.
Economists predict industrial production contracted by 0.1% in September after edging higher in June and July. Wall Street will be looking for any impact from labor strikes at Ford, General Motors and Stellantis. The report will also provide insight into how certain sectors of the economy are faring amid pressure from inflation.
Industrial production, monthly percent change, seasonally adjusted:
April: 0.5
May: -0.3
June: -0.4
July: 0.7
Aug.: 0.4
Sept.(est.): -0.1
Source: FactSet
Housing update
The National Association of Realtors issues its home sales report for September on Thursday.
Analysts expect single-family home sales slipped to a seasonally-adjusted annual rate of 3.88 million. Home sales have mostly eased since early 2023. A lack of supply, elevated interest rates and high home prices have stifled the market.
Existing home sales, in millions, seasonally adjusted annual rate:
April: 4.29
May: 4.30
June: 4.16
July: 4.07
Aug.: 4.04
Sept. (est.): 3.88
Source: FactSet