US: Retail sales will be the highlight of the economic calendar today - TDS

Research Team at TDS suggests that looking past the Fed, retail sales will be the highlight of the economic calendar.

Key Quotes

“We look for the healthy pace of consumer spending to be maintained into November with a 0.4% increase in total retail sales while a modest deceleration in auto sales will see core retail sales (both ex. auto and control group) advance by 0.5%. The market is slightly more downbeat and looks for retail sales growth of 0.3% m/m (headline), 0.4% m/m (ex. auto) and 0.3% m/m (control group).”

“Industrial production is expected to edge lower by 0.3% m/m in November (in line with market estimates) as a 0.2% decrease in manufacturing output is accompanied by sharper declines in mining and utilities output.”

“November producer prices (TD: 0.3% m/m, market: 0.1% m/m) and October business inventories (TD: -0.2% m/m, market: -0.1% m/m) round out the calendar.”