April Indicators: Focus on Construction

The Lehmann Letter (SM)

Everybody is waiting for tomorrow's employment report to gain insight into the expansion’s strength.

But April’s economic indicator publication schedule reveals that employment is only one measure among many. This letter has argued that residential construction is key to the speed and strength of the economy's advance. Housing starts and home sales are critical. If residential construction remains in the doldrums the economy's progress will disappoint.

We'll see.

ECONOMIC INDICATOR PUBLICATION SCHEDULE

April 2011

Source (* below)……Series Description……Day & Date

Quarterly Data

BEA…………………GDP…………..……Thu, 28th


Monthly Data

ISM..Purchasing managers’ index…Fri, 1st

BLS…………….Employment………… Fri, 1st

BEA..New-vehicle sales.(Approximate).Thu, 7th

Fed…..Consumer credit..(Approximate).Thu, 7th

Census……………...Inventories…….. Wed, 13th
BLS…………….Producer prices……. Thu, 14th
BLS…………….Consumer prices.….. Fri, 15th
Fed………..Industrial production…….Fri, 15th
Fed……….Capacity utilization……….Fri, 15th
Census…….……..Housing starts…….Tue, 19th
NAR………Existing-home sales….Wed, 20th
Conf Bd……….Leading indicators….Thu, 21st

Census………..New-home sales……...Mon, 25th
Conf Bd….Consumer confidence….. Tue, 26th

Census……….Capital goods……….. Wed, 27th

BEA = Bureau of Economic Analysis of the U.S. Department of Commerce
BLS = Bureau of Labor Statistics of the U.S. Department of Labor
Census = U.S. Bureau of the Census
Conf Bd = Conference Board
Fed = Federal Reserve System
ISM = Institute for Supply Management
NAR = National Association of Realtors

© 2011 Michael B. Lehmann