PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia discusses the economic data coming out this week.
“We’ll get some pretty important economic data this week. The big one is probably the NAHB Home Builder Index. The sentiment throughout the entire spring season has stayed very low. Here we are, going to get a June number, and we’re sitting at 83. I would think that home builders would be a little bit more optimistic about being able to get materials. I know there are supply chain issues and lumber shortages hurting sentiment, but it’s also an employee situation. Subcontractors are suffering dramatically with not being able to get their employees to come back to work. I’m sure they’re going to have to start raising some hourly wages. Also, homeowner numbers are coming out on Tuesday as well as retail sales, excluding autos, for the month of May.
“We’ll get the New York City federal manufacturing index for the month of June. That’s going to be a very interesting number. We’ll get the Producer Price Index (PPI). That’s an inflation number for the month of May. If we see the May PPI starting to go up along with the inflation that we already have, then we could continue to see higher inflation in the Consumer Price Index as well. I think this summer the volume is going to continue to stay low for several reasons. Last summer, there weren’t a whole lot of people traveling about. This summer, there’s almost a frenzy of people traveling, and I think that goes for the traders as well. So I think they’re taking a wait and see attitude, making sure that this economy is recovering and will continue to do so.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
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