First we look at three measures of short-term inflation expectations--the median expectation from the monthly University of Michigan Survey of Consumers (UM Survey) and the median CPI and core CPI expectations from the quarterly Philadelphia Fed Survey
of Professional Forecasters (SPF).
In the US, the Philadelphia Fed survey
tomorrow, and the University of Michigan consumer confidence survey on Friday, will be watched closely for an indication as to when the Fed's tapering of asset purchases is likely to begin.
The July Philadelphia Fed survey
of manufacturers is due on Thursday.
The Philadelphia Fed survey
for June showed that business sentiment for the US economy has worsened (16.
In addition, data is due on leading economic indicators for June and the Philadelphia Fed survey
of manufacturing activity in the Mid-Atlantic region.
The Empire State Manufacturing Survey and the Philadelphia Fed survey
reports were disappointing as well.
economy after the dollar's fall following the very weak Philadelphia Fed survey
last week,'' Tanaka said.
We also find that the Richmond Manufacturing Survey--alone and when used in conjunction with the Philadelphia Fed Survey
of Business Conditions--is highly correlated with the ISM.
Looking ahead, June housing starts and the July Philadelphia Fed Survey
will be released tomorrow.
A batch of US economic figures are set for release today including initial and continuing jobless claims, existing home sales and the General Business Conditions Index from the Philadelphia Fed Survey
economic outlook after the dollar's fall following the very weak Philadelphia Fed survey
Thursday: September Consumer Price Index (CPI), October Philadelphia Fed survey
, weekly initial jobless claims, weekly natural gas inventories