This Week: US retail sales, home sales, Deere & Co. earns
May 15, 2022, 9:10 PM | Updated: 9:32 pm
A look at some of the key business events and economic indicators upcoming this week:
SIZING UP RETAIL SALES
The Commerce Department serves up its monthly tally of U.S. retail sales Tuesday.
Economists predict sales at restaurants, shops and other retailers rose a seasonally adjusted 0.8% in April from the previous month. That would match March’s increase. The retail report covers only about a third of overall consumer spending and doesn’t include services such as haircuts, hotel stays and plane tickets, areas that have been rebounding from the depths of the pandemic.
Retail sales, monthly percent change, seasonally adjusted:
Nov. 0.6
Dec. -1.6
Jan. 2.7
Feb. 1.7
March 0.8
April (est.) 0.8
Source: FactSet
HOUSING MARKET BAROMETER
The National Association of Realtors issues its April snapshot of U.S. home sales Thursday.
Economists predict sales of previously occupied U.S. homes slowed to a seasonally adjusted annual rate of 5.60 million properties last month from 5.77 million a month prior. March sales were the slowest in nearly two years as swiftly rising mortgage rates and record-high prices discouraged many would-be homebuyers.
Existing home sales, in millions, seasonally adjusted annual rate:
Nov. 6.33
Dec. 6.09
Jan. 6.49
Feb. 5.93
March 5.77
April (est.) 5.60
Source: FactSet
DIG THIS
Wall Street expects a solid quarterly report card from Deere & Co.
Analysts predict the maker of tractors and agricultural equipment will report Friday that its fiscal second-quarter earnings and revenue increased versus the same period last year. In February, Deere reported mixed results for its fiscal first quarter, as costs related to supply chain disruptions and the delayed ratification of a labor contract cut into profits.
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