August – Eye on the Month Ahead

The country is in for renewed deficit-related congressional debate as the October 1 budget-setting deadline for the upcoming fiscal year approaches and the work of the deficit reduction supercommittee begins. President Obama will unveil his proposed jobs program September 8. In addition to economic data that could help clarify the state of the economy, the Fed’s review of its economic stimulus options at its expanded meeting September 20-21 will be of interest.

Key dates and data releases: business productivity, U.S. manufacturing, construction spending (9/1); unemployment/payrolls (9/2); U.S. services sector (9/6); international trade (9/8); wholesale inflation, retail sales (9/14); consumer inflation, industrial production, Philadelphia/Empire State manufacturing surveys (9/15); options expiration (9/16); international capital flows, consumer sentiment (9/16); housing starts (9/20); FOMC announcement, home resales (9/21); new home sales (9/26); home prices, consumer confidence (9/27); durable goods orders (9/28); final Q2 GDP (9/29); personal income/spending, consumer sentiment (9/30).

Source: Broadridge