US: Economic activity indicators in focus this week - NBF

For the US economy, analysts at National Bank Financial point out that we’ll get information about economic activity in late Q1 thanks to March data.

Key Quotes

“Industrial production could have bounced back in the month following two straight monthly declines, as shrinking production in both the utilities and mining segments may have been offset by a healthy expansion in the manufacturing sector.”

“The March retail sales report will also come out. We expect both the headline and ex-auto gauges to have advanced at a healthy clip, reflecting sharp increases for auto sales and gasoline prices during the month.”

“We’ll also get some important information about the housing market with the release of housing starts and new homes sales for March. Both indicators likely advanced on account of lower mortgage rates and rising mortgage applications.”

“The first clues on the state of the manufacturing sector in January will be available with the publication of the Empire State and Philly Fed manufacturing surveys as well as Markit’s flash manufacturing PMI.”

“Several Fed officials are also scheduled to give speeches, notably Charles Evans (Chicago Fed, Monday), Eric Rosengren (Boston Fed, Monday) and James Bullard (St. Louis Fed, Wednesday). Finally, the Fed will issue the latest edition of its Beige Book.”