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This week in business...
Published:November 16, 2009, 7:07 AM
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Updated: August 21, 2010, 3:05 AM
NEW YORK (AP)—This week brings reports including readings on retail sales, manufacturing, housing starts and inflation. The Labor Department also provides its weekly look at unemployment benefits claims.
Today’s Commerce Department report on October retail sales is likely to set the tone for the week. Economists polled by Thomson Reuters predict retail sales rose 0.8 percent in October after a 1.5 percent drop in September.
Analysts generally agree stronger consumer spending is needed for any rebound. And disappointment is likely to send stocks falling.
Meanwhile, major retailers reporting third-quarter earnings will have their own take on the consumer. Home Depot Inc., Target Corp. and TJX Cos. are among those reporting.
A Commerce Department report on housing due Wednesday is expected to show home starts rose 2 percent in October to an annual rate of 600,000 units. Building permits, a sign of future activity, are expected to have increased 1 percent to an annual rate of 580,000.
The Producer Price Index, which measures inflation at the wholesale level, is due out Tuesday and likely rose 0.4 percent in October.
The Consumer Price Index, a measure of prices at the retail level, likely gained 0.2 percent. That report is due Wednesday.
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