http://www.actionforex.com/latest-ne...2008061649811/
U.S. housing starts are expected to decline to 980K. TD Economist Millan Mulraine forecasts U.S. housing starts to decline modestly in May, following the strong 8.2% month-over-month surge in activity in April.
"The U.S. housing sector remains weak, with the overhang of unsold new homes - which now stands at 10.6 months - continuing to bear down on home building activity and prices. In addition, the number of building permits approved remains at a 17-year low. As a result, given the difficult environment that U.S. builders continue to face, we expect the downward trend in housing starts to continue in May," wrote Mulraine.
Industrial Production is expected to rise 0.1% in May. Economists at Global Economics expect a rebound in motor vehicle production and a minor recovery in manufacturing excluding vehicles to push up growth to 0.2%.
7:45 US ICSC Chain Stores Sales (M/M) Prior: +1.7%
8:30 CA International Securities Transactions April Exp: C$4.000 Prior: C$5.296
8:30 US Current Account Balance Q1 Exp: -$172.5B Prior: -$172.9B
8:30 US Producer Price Index (M/M) May Exp: +1.0% Prior: +0.2%
8:30 US PPI Ex Food & Energy (M/M) May Exp: +0.2% Prior: +0.4%
8:30 US Producer Price Index (Y/Y) May Exp: +6.8% Prior: +6.5%
8:30 US PPI Ex Food & Energy (Y/Y) May Exp: +3.0% Prior: +3.0%
8:30 US Housing Starts May Exp: +980K Prior: +1032K
8:30 US Building Permits May Exp: +959K Prior: +978K Revised: +982K
8:55 US Redbook Retail Sales (Y/Y) Prior: +2.1%
9:15 US Industrial Production May Exp: +0.1% Prior: -0.7%
9:15 US Capacity Utilization May Exp: +79.7% Prior: +79.7%
11:00 US Global Insights "Emerging Markets"
13:00 US Treasury to Sell 4-Week Bills
17:00 US ABC Consumer Confidence 15-June Exp: -45 Prior: -45
17-18 June US U.S. Treasury, Chinese Officials Meet at U.S. Naval Academy
By Steve Stecyk, [color=#0253b7][email protected][/color] This email address is being protected from spam bots, you need Javascript enabled to view it , edited by Cristina Markham, [color=#0253b7][email protected][/color] This email address is being protected from spam bots, you need Javascript enabled to view it
Bruce
U.S. housing starts are expected to decline to 980K. TD Economist Millan Mulraine forecasts U.S. housing starts to decline modestly in May, following the strong 8.2% month-over-month surge in activity in April.
"The U.S. housing sector remains weak, with the overhang of unsold new homes - which now stands at 10.6 months - continuing to bear down on home building activity and prices. In addition, the number of building permits approved remains at a 17-year low. As a result, given the difficult environment that U.S. builders continue to face, we expect the downward trend in housing starts to continue in May," wrote Mulraine.
Industrial Production is expected to rise 0.1% in May. Economists at Global Economics expect a rebound in motor vehicle production and a minor recovery in manufacturing excluding vehicles to push up growth to 0.2%.
7:45 US ICSC Chain Stores Sales (M/M) Prior: +1.7%
8:30 CA International Securities Transactions April Exp: C$4.000 Prior: C$5.296
8:30 US Current Account Balance Q1 Exp: -$172.5B Prior: -$172.9B
8:30 US Producer Price Index (M/M) May Exp: +1.0% Prior: +0.2%
8:30 US PPI Ex Food & Energy (M/M) May Exp: +0.2% Prior: +0.4%
8:30 US Producer Price Index (Y/Y) May Exp: +6.8% Prior: +6.5%
8:30 US PPI Ex Food & Energy (Y/Y) May Exp: +3.0% Prior: +3.0%
8:30 US Housing Starts May Exp: +980K Prior: +1032K
8:30 US Building Permits May Exp: +959K Prior: +978K Revised: +982K
8:55 US Redbook Retail Sales (Y/Y) Prior: +2.1%
9:15 US Industrial Production May Exp: +0.1% Prior: -0.7%
9:15 US Capacity Utilization May Exp: +79.7% Prior: +79.7%
11:00 US Global Insights "Emerging Markets"
13:00 US Treasury to Sell 4-Week Bills
17:00 US ABC Consumer Confidence 15-June Exp: -45 Prior: -45
17-18 June US U.S. Treasury, Chinese Officials Meet at U.S. Naval Academy
By Steve Stecyk, [color=#0253b7][email protected][/color] This email address is being protected from spam bots, you need Javascript enabled to view it , edited by Cristina Markham, [color=#0253b7][email protected][/color] This email address is being protected from spam bots, you need Javascript enabled to view it
Bruce
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