What to Watch Friday: Retail Sales Key Economic Indicator

For Friday December 11, TheStreet highlights key economic reports set to be released throughout the day. In the morning, we have the producer price index along with retail sales. Then at 10 a.m. Eastern, we get the business inventories report. The consumer sentiment will also come out at the same time and analysts are projecting that consumer attitudes improved in November. Last but not least, in the afternoon, the Baker-Hughes report will tell us more about the changes in oil and gas supplies. The one that a lot of traders will be focusing on is the retail sales numbers. Analysts are expecting retail sales to increase 0.3% in November, a slight uptick from 0.1% the previous month. Consumer spending is likely to show some strength, giving the Fed even more reason to raise interest rates this month. Despite this bullish sentiment, retailers are not too happy about the warmer-than-usual weather that's been affecting sales of winter apparel. Overall, despite the projected rise in retail sales, consumers are likely to remain cautious despite steady jobs growth and cheap gas prices. TheStreet's U-Jin Lee reports from Wall Street.