Data released today (Friday) shows that Preliminary Consumer Sentiment for December dropped to 74.5% from the final reading of 82.7% for November, as shown on the graph below. December's final (Revised) data will be released in a couple of weeks. The Preliminary release tends to have the most impact.
Inasmuch as it's a "leading indicator of consumer spending, which accounts for a majority of overall economic activity," this may be forecasting a weakening of expected Christmas sales, and sales into 2013 (since consumers will have to begin paying for any Christmas gifts purchased on credit).
Furthermore, Preliminary Inflation Expectations for December rose to 3.3% from the final reading of 3.1% for November...the final (Revised) data will be released in a couple of weeks. Inasmuch as "expectations of future inflation can manifest into real inflation, primarily because workers tend to push for higher wages when they believe prices will rise," this would, no doubt, have an impact on corporate profits and, potentially, impinge on hiring intentions.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
UPCOMING (MAJOR) U.S. ECONOMIC VENTS...
* Wed. Aug. 21 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Aug. 22-24 ~ Annual Jackson Hole Symposium
* Wed. Sept. 4 @ 2:00 pm ET ~ Beige Book Report
* Fri. Sept. 6 @ 8:30 am ET ~ Employment Data
* Thurs. Sept. 12 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Fri. Sept. 13 @ 8:30 am ET ~ Core Retail Sales & Retail Sales
* Wed. Sept. 18 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
*** Click here for link to Economic Calendars for all upcoming events
NOTABLE POSTS WITH IMPORTANT UPDATES...