Economic Events on September 8, 2010

The Mortgage Bankers’ Association purchase index was released at 7:00 AM EDT, and there was a week to week increase of 6.3% in the Purchase Index and a week to week decrease of 3.1% in the Refinance Index, putting the purchase applications at their highest level since May.

At 7:45 AM EDT, the weekly ICSC-Goldman Store Sales report will be released, giving an update on the health of the consumer through this analysis of retail sales.

At 8:55 AM EDT, the weekly Redbook report will be released, giving us more information about consumer spending.

At 10:00 AM EDT, the Quarterly Services Survey will be released, showing the status of the information and technology-related service industries.

At 2:00 PM EDT, the Beige Book report will be released, giving us more information about economic conditions in each Federal Reserve district in advance of the next Fed meeting.

At 3:00 PM EDT, the Consumer Credit report for July will be released.  The consensus estimate is that there will be an decrease of $3.5 billion in the consumer credit available from June to July, after a decreases of $1.3 billion in June, $9.1 billion in May and $14.9 billion in April.

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