MT Insider: U.S. Economics Calendar, Impact From Government Shutdown - Monday, October 7

By Staff,

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Due to the federal government shutdown, reports on the employment situation, factory orders, and construction spending were not released as scheduled last week. Note, no alternative release dates have been set amid uncertainty surrounding how long the shutdown will last.

If the government remains shut down, MT Newswires does not expect to receive reports on the trade balance, JOLTS (Job Openings and Labor Turnover Survey), wholesale inventories, the import price index, the monthly budget statement, the Producer Price Index, retail sales, or business inventories.

The minutes from the September Federal Open Market Committee meeting and separate reports on consumer credit, small business optimism (from the National Federation of Independent Business), weekly jobless claims, and consumer sentiment (University of Michigan) will be released regardless of the status of the shutdown.

Separately, the schedule of Federal Reserve speakers will also be unaffected.

Today Calendar:

3PM - Consumer credit, August (consensus +$12.0 billion, last +$10.4 billion). Consumer credit rose an average of $13.1 billion per month over the past year. The consensus is for a similar gain in August.

Consumer credit outstanding currently exceeds its pre-crisis peak, driven primarily by an increase in non-credit card debt. Nevertheless, the household debt service ratio (which is defined as the ratio of total debt service payments to disposable personal income) is still at lows, likely due to low interest rates.

07:30PM Dallas Fed President Fisher (FOMC non-voter) speaks

President Fisher is known for his more hawkish monetary policy views. He recently noted that he was concerned about the long-term risks of the Fed's large balance sheet and would have preferred the Fed to have already begun reducing the rate of asset purchases.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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