There's a slew of economic data this week: tonight's PPI, tomorrow night's CPI, Thursday night's retail sales, and initial jobless claims. Broadly speaking, PPI and CPI fall under the inflation category, while retail sales and jobless claims are now more closely watched as indicators of economic strength.

Market focus has shifted from whether inflation is continuing to slow to whether the economy is heading towards a recession. In this sense, retail and employment data (Thursday) may carry more weight than inflation data (Tuesday PPI, Wednesday CPI), as the market is more concerned about a recession.

The risk with PPI and CPI has now become whether they will come in significantly below expectations. A significant miss would imply further declines in consumption or the broader economy.

Анализ данных экономики.