This will be an interesting week for anyone shopping for new data on which way the economy is headed.
First, the Commerce Department will release November retail sales on Tuesday, the same day that the Federal Open Market Committee will provide its latest views on the economy (while presumably standing pat on its policy decisions.)
Then, we get producer price information on Thursday and consumer price data on Friday. That's a window into the inflation/deflation picture. Sandiwiched between those reports are the Federal Reserve Bank of Philadelphia's Business Outlook Survey as well as Fed reports on industrial production and capacity utilization (all on Thursday). That will update the health of the manufacturing sector.
In local business news, Mount Laurel-based inTest Corp. has agreed to acquire Thermonics, a Sunnyvalle, Calif., developer of precision temperature testing systems, for $4 million. The deal is expected to close on Jan. 3.
Exton medical device maker Kensey Nash will get a $6 million payment from Spectranetics after sales of endovascular product lines that Kensey Nash sold in 2008 reached a $20 million threshold. The payment is to be made in February.
Finally, Chadds Ford-based Endo Pharmaceuticals said that the Food and Drug Administration has approved a new crush-resistant version of its Opana ER pain killer. With prescription-drug abuse on the rise, companies have been searching for ways to reduce the opportunities for abuse to occur.
However, Endo said in its news release that it has not established that the new crush-resistant Opana is "less subject to misuse, abuse, diversion, overdose or addiction."