This Week: Consumer prices, Wal-Mart earns, housing starts
In this Thursday, June 1, 2017, photo, builders work on the roof of a home under construction at a housing plan in Jackson Township, Pa. The Commerce Department issues its tally of new residential construction starts Friday, Nov. 17. (AP Photo/Keith Srakocic)
November 12, 2017 - 10:06 PM
A look at some of the key business events and economic indicators upcoming this week:
JUST A BLIP?
Economists expect that a gauge of U.S. consumer prices edged higher in October after a big jump the previous month.
The Labor Department's consumer price index, due out Wednesday, is projected to show a gain of 0.1 per cent for October. Consumer prices jumped 0.5 per cent in September, the largest increase in eight months. That reflected a spike in energy prices in the aftermath of Hurricane Harvey, which shut Gulf Coast refineries and drove up gas prices.
Consumer price index, monthly per cent change, seasonally adjusted, by month:
Oct. (est.) 0.1
ON A ROLL
Wall Street expects another strong quarterly report card from Wal-Mart Stores.
The world's largest retailer posted improved earnings and revenue in the first half of its current fiscal year. The company has been scaling back new store growth in the U.S. and focusing on its online business as it takes on Amazon.com and more traditional rivals, like Target. Wal-Mart serves up its third-quarter results Thursday.
EYE ON CONSTRUCTION
The Commerce Department issues its latest monthly tally of new residential construction starts Friday.
Construction of new homes and apartments slid 4.7 per cent in September, the biggest decline in six months. Builders say they are hamstrung by shortages of skilled workers and land parcels ready for new construction. Despite the slowdown, homebuilding is still running 6.1 per cent higher than a year ago.
Housing starts, monthly, seasonally adjusted annual rate:
Oct. (est.) 1,190,000
News from © The Associated Press, 2017