What to Watch Tuesday: August Retail Sales, Industrial Production

For Tuesday, September 15, TheStreet awaits some important data before the Federal Reserve's two-day meeting begins on Wednesday. At 8:30 a.m. Eastern August Retail Sales, an indicator of consumer spending, will be released. Sales, including both food services and retail, are expected to show a 0.3 percent increase, down from the 0.6 percent rise reported in July, according to Econoday. If retail sales jump by as much as 1 percent, a Federal Reserve interest rate hike could be likely. Due to the fall in gas prices, demand is up, but gas stations are expected to show lower revenue for August. The Empire State manufacturing index, the monthly survey of New York state manufacturers, will be released at 8:30 a.m. This survey is expected to show an increase to minus 0.50 for September, up from the minus 14.92 reported for August. To coincide with the retail sales, the Redbook, a weekly analysis of comparable store sales will be released at 8:55 a.m. Industrial Production numbers will be released at 9:15 a.m. with an expected 0.2 percent decline due to a drop in manufacturing for August. TheStreet’s Valerie Young reports from Wall Street.