Daily Economic Calendar, August 15, 2017 – UK Inflation and US Retail Sales

Tuesday brings the latest US Retail Sales data, so let’s take a closer look.
Swiss Producer and Import Price Index for July is up first at 7:15 AM. The Index has been declining for the past three months, pushed lower by decreasing scrap and wood products prices.

A number of news releases regarding the British economy in July are out at 8:30, including the all-important Consumer Price Index. It is quite remarkable that the UK has lately been facing the issue of inflationary, rather than deflationary, pressure, although the annual CPI did ease in June from the 4-year high reached the previous month.
Producer Price Index, on the other hand, has been declining for the past 3 months, mainly due to lower oil prices.
And UK House Price Index for June comes at the same time. The annual price growth did slow down in May, but the report remained moderately positive about price expectations.
Coming up next at 12:30 PM GMT is the closely watched preliminary estimate of US July Retail Sales. Sales have been declining for the past two months, suggesting that American households remain cautious about spending their growing income.
Empire State Manufacturing Index for August is out at this time as well. The Index plunged by no less than 10 points in June, having reached a 2-year high the previous month.
US NAHB Housing Market Index for August will be available at 2. July brought the second consecutive monthly decrease, although the Index still remains well in the positive territory.
And Australian Westpac Leading Index for June concludes the schedule at half past midnight. The May reading slipped below the long-term average, reflecting a drop in commodity prices.