Getting toward Turkey day, and those numbers will take on a decidedly holiday-like tint. At least that¿s what the economists tell us. Here¿s a look at Friday¿s numbers.
October Industrial Production and Capacity Utilization
(9:15 AM EST): This measure of the country¿s economic might, courtesy of the Federal Reserve, should indicate that the economy is not moving ahead at an overly brisk pace, economists say. Consensus view: a gain of 0.2% in industrial production, with capacity utilization at 83%. John Lipsky, economist at
, forecasts an actual decline in industrial production, led by a strike-induced slowdown in the auto sector.
September Business Inventories
(10:00 AM EST): This measure, though older, should provide early clues as to the pre-holiday inventory situation. Big gains in inventories would spark intense fretting about year-end sales and price slashing.
November University of Michigan Consumer Survey
(Leaked around during the day. Private survey, you know, but it gets out there somehow.): Just a preliminary reading, but should provide a clue on that holiday spending mood.
Federal Open Market Committee minutes
(4:30 PM EST): Ah, arcana galore. But for the Fed maniacs, this should provide plenty of fodder. Look for some bickering about raising rates¿but less than before. Any chatter about the stock market being too richly valued would be fun to read, says one Chicago-based economist.
By Dave Kansas