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September 06, 2024
Preview: Due September 19 - U.S. August Existing Home Sales - Slippage to resume
September 6, 2024 6:26 PM UTC
We expect a 2.5% decline in August existing home sales outcome to 3.85m, resuming a negative trend after a 1.3% July rise corrected a steep 5.1% decline in June. August’s level would be the weakest since a matching low in October 2023.
Preview: Due September 18 - U.S. August Housing Starts and Permits - Starts to correct higher, permits to slip
September 6, 2024 5:33 PM UTC
We expect August housing starts to correct higher by 5.0% to 1300k after a 6.8% July decline that may have been exaggerated by bad weather. However we expect a 1.1% decline in permits to 1390k to extend a 3.3% decline seen in July.
Preview: Due September 17 - U.S. August Industrial Production - Autos to correct from weak July
September 6, 2024 4:42 PM UTC
We expect August industrial production to rise by 0.5% after a 0.6% June decline, while manufacturing increases by 0.4% after a 0.3% July decline. Autos are likely to lead the rise after leading the July decline.
Canada August Employment - Detail mostly weak
September 6, 2024 1:43 PM UTC
Canada’s August employment report with a 22.1k increase is in line with expectations on the headline and an improvement from two straight near flat moths, but weak in the detail. The employment gain came fully on a 65.7k rise in part time employment with full time work falling by 43.6k, while unem
U.S. August Employment - A little stronger than downwardly revised June and July
September 6, 2024 1:10 PM UTC
August’s non-farm payroll is a little weaker than expected with a 142k rise overall, 118k in the private sector, with significant negative back month revisions in the preceding two months totaling 86k. However the data is stronger than July’s, not only in the payroll, but also a correction lower
Eurozone: Sobering Services and Domestic Demand News is Food for ECB Doves
September 6, 2024 10:53 AM UTC
The fact that EZ growth was revised down a notch to 0.2% in Q2 is of little importance – it partly reflects a small recovery in imports that we have been flagging for some time would be a likely break on recorded activity. Over and beyond more signs of slowing wage pressures in Q2 data, more not