This Week: Consumer borrowing, GameStop 2Q, retail sales
A look at some of the key business events and economic indicators upcoming this week:
JUST CHARGE IT
The Federal Reserve issues new data Monday on how much credit Americans took on in July.
The tally, which excludes mortgages and other loans secured by real estate, is expected to show consumer borrowing increased by $16 billion, up from a gain of $14.6 billion the previous month. June’s increase pushed total consumer credit to a record $4.1 trillion.
Consumer credit, monthly change, seasonally adjusted, billions of dollars:
July (est.) 16.0
NOT A FUN GAME
Wall Street expects that GameStop’s struggles continued in the second quarter.
Financial analysts predict the video game retailer will report Tuesday that it slid to a loss in the May-July quarter and that its revenue declined from a year earlier. GameStop has grappled with slowing sales as games have become more accessible online and on mobile devices.
SIZING UP RETAIL SALES
Healthy U.S. consumer spending has helped drive modest sales gains for retail stores and restaurants lately.
Retail sales rose a healthy 0.7% in July, with online retailers, grocery stores, clothing retailers and electronics and appliance stores all reporting strong gains. That followed a 0.3% gain in June. Did the trend continue last month? Find out Friday, when the Commerce Department serves up its monthly tally of retail sales.
Retail sales, monthly percent change, seasonally adjusted:
Aug. (est.) 0.1