Dismal Data

55
Tue, Mar 16, 2021 - 10:08am

As we await tomorrow's FOMC Fedlines, today brought some fresh economic datapoints. Lately, the US data has been reasonably solid, all things considered, but today it was pretty lousy and we have to wonder what, if any, impact that might have on the week ahead.

And what were those datapoints, you ask? The first was the US retail sales number for February. This figure had been rising due to stimulus and Covid easings...but not last month. In fact, the number actually came in -3.0% and the worst level since April of last year. And it wasn't just regular retail as online sales...

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Key Economic Events Week of 5/3

5/3 9:45 ET Markit manu PMI
5/3 10:00 ET ISM manu PMI
5/3 10:00 ET Construction Spending
5/3 2:20 ET Chief Goon Powell
5/4 8:30 ET US Trade Deficit
5/4 8:30 ET Factory Orders
5/4 1:00 ET Goons Daly and Kashnkari
5/5 8:15 ET ADP jobs report
5/5 9:45 ET Markit service PMI
5/5 10:00 ET ISM service PMI
5/5 12:00 ET Goon Mester
5/6 8:30 ET Productivity and Labor Costs
5/6 10:00 ET Goon Kaplan
5/7 8:30 ET BLSBS

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