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Wednesday: Vehicle Sales, ISM Manufacturing, ADP Employment, Q3 Office Vacancies, Construction Spending


Wednesday will be busy! First, from the National Restaurant Association: Restaurant Performance Index Registers August Gain

Driven by stronger same-store sales and customer traffic levels and a more optimistic outlook among restaurant operators, the National Restaurant Association’s Restaurant Performance Index (RPI) posted a solid gain in August. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 101.9 in August, up 1.0 percent from July and its first gain in three months. In addition, the RPI stood above 100 for the 18th consecutive month, which signifies expansion in the index of key industry indicators.

The August gain in the RPI was fueled by stronger same-store sales and customer traffic results, aided by continued improving economic conditions,” said Hudson Riehle, senior vice president of the Research and Knowledge Group for the Association. “Looking forward, restaurant operators remain generally optimistic about continued sales growth, while a majority plans to make a capital expenditure in the next six months. However, operators still report food costs and government among top challenges that continue to negatively affect the operating environment.”
emphasis added

Restaurant Performance Index Click on graph for larger image.

The index increased to 101.9 in August, up from 101.0 in July. (above 100 indicates expansion).

Restaurant spending is discretionary, so even though this is “D-list” data, I like to check it every month.  This is a solid reading.

• At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• All day, Light vehicle sales for September. The consensus is for light vehicle sales to decrease to 16.8 million SAAR in September from 17.4 million in August (Seasonally Adjusted Annual Rate).

• 8:15 AM, the ADP Employment Report for September. This report is for private payrolls only (no government). The consensus is for 200,000 payroll jobs added in September, down from 205,000 in August.

• Early, Reis Q3 2014 Office Survey of rents and vacancy rates.

• At 10:00 AM, the ISM Manufacturing Index for September. The consensus is for a decrease to 58.0 from 59.0 in August. The ISM manufacturing index indicated expansion in August at 59.0%. The employment index was at 58.1%, and the new orders index was at 66.7%.

• At 10:00 AM, Construction Spending for August. The consensus is for a 0.5% increase in construction spending.
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