Saturday, November 15, 2014

Schedule for Week of November 16th

by Bill McBride on 11/15/2014 12:12:00 PM

The key economic reports this week are October housing starts on Wednesday, and October existing home sales on Thursday.

For manufacturing, the October Industrial Production and Capacity Utilization report, and the November NY Fed (Empire State), Philly Fed and Kansas City Fed manufacturing surveys, will be released this week.

For prices, PPI will be released on Tuesday and CPI on Thursday.

----- Monday, November 17th -----

8:30 AM: NY Fed Empire Manufacturing Survey for November. The consensus is for a reading of 10.5, up from 6.2 in October (above zero is expansion).

Industrial Production 9:15 AM: The Fed will release Industrial Production and Capacity Utilization for October.

This graph shows industrial production since 1967.

The consensus is for a 0.2% increase in Industrial Production, and for Capacity Utilization to increase to 79.3%.

Note: New York Fed to Publish Blog Series on Long-term Unemployment and Labor Market Slack

----- Tuesday, November 18th -----

8:30 AM: The Producer Price Index for October from the BLS. The consensus is for a 0.1% decrease in prices, and a 0.1% increase in core PPI.

10:00 AM: The November NAHB homebuilder survey. The consensus is for a reading of 55, up from 54 in October.  Any number above 50 indicates that more builders view sales conditions as good than poor.

----- Wednesday, November 19th -----

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

Total Housing Starts and Single Family Housing Starts8:30 AM: Housing Starts for October.

Total housing starts were at 1.017 million (SAAR) in September. Single family starts were at 646 thousand SAAR in September.

The consensus is for total housing starts to increase to 1.025 million (SAAR) in October.

During the day: The AIA's Architecture Billings Index for October (a leading indicator for commercial real estate).

2:00 PM: the FOMC Minutes for the Meeting of October 28-29, 2014

----- Thursday, November 20th -----

8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for claims to decrease to 281 thousand from 290 thousand.

8:30 AM: Consumer Price Index for October. The consensus is for a 0.1% decrease in CPI in October, and for core CPI to increase 0.1%.

Existing Home Sales10:00 AM: Existing Home Sales for October from the National Association of Realtors (NAR).

The consensus is for sales of 5.15 million on seasonally adjusted annual rate (SAAR) basis. Sales in September were at a 5.17 million SAAR. Economist Tom Lawler estimates the NAR will report sales of 5.28 million SAAR.

A key will be the reported year-over-year increase in inventory of homes for sale.

10:00 AM: the Philly Fed manufacturing survey for November. The consensus is for a reading of 18.5, down from 20.7 last month (above zero indicates expansion).

----- Friday, November 21st -----

10:00 AM: Regional and State Employment and Unemployment (Monthly) for October 2014

11:00 AM: the Kansas City Fed manufacturing survey for November.