Three Datapoints Are Coming Out Today That Will Give Us A Real Glimpse Of The US Economy

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Today we get some excellent, high-quality economic data that will give us a nice look at the state of the US economy.

Via Calculated Risk, here are the numbers, expectations, and times.

• At 8:30 AM, the NY Fed Empire Manufacturing Survey for May will be released. The consensus is for a reading of 3.75, up from 3.05 in April (above zero is expansion).

• At 9:15 AM, The Fed will release Industrial Production and Capacity Utilization for April. The consensus is for a 0.2% decrease in Industrial Production in March, and for Capacity Utilization to decrease to 78.3%.

• At 10:00 AM, The May NAHB homebuilder survey. The consensus is for a reading of 43, up from 42 in April. This index has decreased recently with some builders complaining about higher costs nd lack of buildable land. Any number below 50 still indicates that more builders view sales conditions as poor than good.

The homebuilder survey at 10:00 AM will be particularly interesting. It’s a good gauge of the housing market (which is generally seen as being in a nice upswing lately), and yet this number has been stalling out lately.

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