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LONDON (MNI) - The US calendar kicks off at 0830ET, with the publication of
the latest Personal Income and Consumption numbers.
Personal income is expected to rise a more modest 0.2% in August, as
payrolls rose by only 156,000, average weekly hours slipped to 34.4 hours and
hourly earnings rose a modest 0.1%. Current dollar PCE is forecast to tick up by
0.1%, as retail sales fell 0.2% in the month and were up only 0.2% excluding a
1.6% decline in motor vehicle sales. Core retail sales (also ex. gas) were down
0.1% in the month, while sales excluding autos, gas, building materials and food
services fell 0.2%, indicating underlying weakness partially resulting from the
hurricanes. The core PCE price index is expected to post a 0.2% increase in
August, reflecting the stronger CPI gain. The year/year gain should remain below
At the same time, Canadian industrial production and GDP data will be
The Milwaukee Manufacturing ISM index is set for publication at 1345GMT,
with the MNI Chicago PMI at the same time. The Final Michigan Sentiment Index
will be released at 1400GMT.
The MNI Chicago PMI is expected to rise modestly to a reading of 59.0 in
September after holding steady at 58.9 in August. Other regional data already
released suggest solid growth.
The Michigan Sentiment index is expected to be unrevised from the 95.3
preliminary estimate, with a downside risk as further hurricane impacts should
The latest St. Louis Fed Real GDP Nowcast will cross the wires at 1500GMT,
followed by the NY Fed GDP Nowcast at 1515GMT.
--MNI London Bureau; tel: +44 203-586-2225; email: email@example.com