Tuesday (October 12th)
CPI for September – Bloomberg consensus: 0.2%(e) v 0.4% prior
🔴 Several proxies showed that retail gasoline prices were broadly stable in September. Using seasonal adjustment, it would translate into a slight decline.
Friday (October 16th)
Retail Sales for September – Bloomberg consensus MoM: +0.8%(e) v +0.6% prior
🟢 Once again, auto sales are expected to support the headline. According to Wards data, U.S. New vehicle sales increased by 7.6% MoM, reaching 16.34M SAAR in September (7-month high).
🇺🇸 U.S. New Vehicle Sales Rose to 7-Month High in September, Getting Close to Pre-Crisis Levelhttps://t.co/clMy3iSpSl
— Christophe Barraud🛢 (@C_Barraud) October 2, 2020
Industrial Production for September – Bloomberg consensus MoM: +0.6%(e) v +0.4% prior
🔴 “Utilities” production (10.42% of the index) is likely to drop as hot August temperatures normalized downward in September (less demand for air conditioning) while multiple power outages in California also weighted negatively.
🟢 On the positive side, “Mining” production (14.24% of the index) should rebound after storm-related curtailments affected oil and gas-related activities in August.