The Library of CongressThere’s a perception that the US economy is doing that thing again, where it weakens markedly in the spring.
And given yesterday’s tumble in the stock market (coupled with the swift deflationary downdraft in gold and silver), nerves are on edge about what exactly is happening to economy and markets.
As such, today’s economic data is all interesting.
Via Calculated Risk, these are the three datapoints:
• At 8:30 AM ET, Housing Starts for March from the Census Bureau. The consensus is for total housing starts to increase to 930 thousand (SAAR) in March, up from 917 thousand in February.
• Also at 8:30 AM, the BLS will release the Consumer Price Index for March. The consensus is no change in CPI in March (due to lower gasoline prices) and for core CPI to increase 0.2%.
• At 9:15 AM, the Fed will release Industrial Production and Capacity Utilization for March. The consensus is for a 0.2% increase in Industrial Production in March, and for Capacity Utilization to decrease to 78.3%.
All three of these are important. Housing will be key, since some housing data lately has stalled out a bit. The CPI will be crucial since that will get at this deflation question. And industrial production is always crucial.
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