This Week: Consumer borrowing, job openings, consumer prices
A look at some of the key business events and economic indicators upcoming this week:
The Federal Reserve issues its latest snapshot of U.S. consumer borrowing Monday.
The tally, which excludes mortgages and other loans secured by real estate, is expected to show consumer borrowing increased by $18.6 billion in January. That would follow an increase of $18.9 billion the previous month. December’s gain lifted total consumer credit to $4.43 trillion.
Consumer credit, monthly change, seasonally adjusted, billions of dollars:
Jan. (est.) 18.6
The Labor Department serves up its monthly tally of U.S. job openings Wednesday.
Economists expect the Job Openings and Labor Turnover Survey, or JOLTS, will show that U.S. employers advertised nearly 11 million open jobs in January. That’s essentially the same number of jobs posted the previous month and far higher than pre-pandemic levels. Job openings hit an all-time high of 11.1 million in July.
Job openings, in millions, by month:
Jan. (est.) 10.95
The Labor Department delivers its February reading of inflation at the consumer level Thursday.
Americans continue to face higher costs, reflected in sharp annual increases in the consumer price index. Prices for U.S. consumers jumped 7.5% in January from a year earlier, the highest rate of inflation in four decades. Economists predict inflation picked up to 7.9% in the 12 months ended in February. The Federal Reserve is expected to begin raising interest rates this month in response to surging inflation.
Consumer price index, annual percent change, not seasonally adjusted:
Feb. (est.) 7.9