This week is full of economic data. Today there will be a report on retail sales for December, which is expected to increase by 0.2% from November’s sales. While December’s numbers are likely decent from the holidays, economists are wondering how much the tax increases will affect retail sales in the first quarter.
On Wednesday the NAHB housing market index will be released. Last month the index ticked up two points, bringing the total to eight months of consecutive increases. We are almost at a breakeven level which means that more builders find conditions good rather than bad.
Thursday there will be reports on housing starts, building permits, and jobless claims. Housing starts declined in November but December’s numbers are expected to rise to 0.887 million units. Jobless claims may start to settle down and be a better indicator of labor market conditions.
Friday schedule is light with only a consumer sentiment report. With all the uncertainty in December from the fiscal cliff the consumer sentiment index was down nearly 10 points from November. Economists are expecting the sentiment index for the start of January to increase marginally.
Senior Loan Officer
NMLS #191784 - 1st Advantage Mortgage NMLS #2551
1st Advantage Mortgage, a Draper and Kramer company