Tracking the Economy: Data This Week May Include Trade Gains --- But Declines Are Expected For Industrial Output, Inventories, Retail Sales
NEW YORK -- This week's economic data, which will shed more light on the much-discussed slowdown, may also bring some better trade figures.</br></br>October reports on industrial production and capacity utilization, due out tomorrow, are expected to show declines -- a move suggested in the recent October jobs data.</br></br>The report on October retail sales, also due out tomorrow, is expected to show a slide from the previous month. And Wednesday's data on September manufacturing inventories could show some declines from August levels.</br></br>The September trade deficit, due out Thursday, is thought to have contracted from August's $10.8 billion. The consensus view calls for a $9 billion deficit for September, according to MMS International, a unit of McGraw-Hill Inc., New York.</br></br>Last week, the Federal Reserve eased credit in what many economists saw as an effort to temper the slowdown that has been the number-one topic among economists for weeks. "This is one of those few times when people have a unanimous view that we're on a slow-growth track," said Michael Moran, economist at Daiwa Securities America Inc., New York. But the debate continues on whether the economy is sliding toward recession.