Week ahead: New details on trade
After a busy week of economic data, this one should be quieter, offering the Federal Reserve's compilation of anecdotal information on the job market and new details on trade.
The Fed releases its beige book, an eight-times-a-year assemblage of reports from businesses across the country that is meant to help inform Fed officials as they make monetary policy.
Look for a tone of subdued confidence, evidence that businesses are nervous about the recovery but, nonetheless, seeing continued gradual growth.
Also Wednesday, the Fed is scheduled to release data on consumer credit that analysts expect to show that Americans reduced their non-mortgage debt load, such as credit cards and auto loans, by $4.3 billion in July. That would be steeper than the $1.3 billion decline in June, and a sign that Americans continue making progress reducing their indebtedness.
The Commerce Department is expected to report a narrowing of the trade deficit in July, to $47 billion from $49.9 billion in June.
Trade was a major drain on overall growth in the second quarter, on a surprisingly steep rise in imports. The question now is whether that pattern will continue in the third quarter. Thursday's report will be the first piece of evidence.
Wholesale inventories are forecast to have risen 0.4 percent in July, compared with a 0.1 percent gain in June, as businesses continue to gain confidence and build inventory levels.
September 7, 2010; 6:42 AM ET
Categories: Federal Reserve , Trade
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