3 Numbers: ECB Upholds QE, Policy Rate; U.S. Industry; U.S. Housing
James Picerno | Apr 15, 2015 05:21AM ET
The pace of economic releases picks up today, including the European Central Bank’s interest rate announcement and subsequent press conference. We’ll also see new data on US industrial production for last month and the April reading of mood in the US home building industry.
said Markit’s chief economist this month.
The key question for today’s release: Does the Federal Reserve’s monthly report on industrial activity confirm Markit’s encouraging outlook or ISM’s forecast of an ongoing slowdown?
said NAHB’s chairman last month. “The drop in builder confidence is largely attributable to supply chain issues, such as lot and labour shortages as well as tight underwriting standards.”
Economists seem to agree. The consensus forecast via Econoday.com calls for a modest rebound in today’s HMI data for April: a rise of two points to 55. If so, expectations will get a lift for tomorrow’s hard-data update on housing construction.
Disclosure: Originally published at Saxo Bank TradingFloor.com
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