Saturday, January 10, 2015

Schedule for Week of January 11, 2015

by Bill McBride on 1/10/2015 11:11:00 AM

The key economic report this week is December retail sales on Wednesday.

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

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

----- Monday, January 12th -----

At 10:00 AM ET: The Fed will release the monthly Labor Market Conditions Index (LMCI).

----- Tuesday, January 13th -----

7:30 AM ET: NFIB Small Business Optimism Index for December.

Job Openings and Labor Turnover Survey 10:00 AM: Job Openings and Labor Turnover Survey for November from the BLS.

This graph shows job openings (yellow line), hires (purple), Layoff, Discharges and other (red column), and Quits (light blue column) from the JOLTS.

Jobs openings increased in October to 4.834 million from 4.685 million in September.

he number of job openings (yellow) were up 21% year-over-year compared to October 2013, and Quits were up 12% year-over-year.

----- Wednesday, January 14th -----

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

Retail Sales 8:30 AM ET: Retail sales for December will be released.

This graph shows retail sales since 1992 through November 2014. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline). On a monthly basis, retail sales increased 0.7% from October to November (seasonally adjusted), and sales were up 5.1% from November 2013.

The consensus is for retail sales to decrease 0.1% in December, and to decrease 0.1% ex-autos.

10:00 AM: Manufacturing and Trade: Inventories and Sales (business inventories) report for November.  The consensus is for a 0.2% increase in inventories.

2:00 PM: Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts.

----- Thursday, January 15th -----

8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for claims to increase to 295 thousand from 294 thousand.

8:30 AM: The Producer Price Index for December from the BLS. The consensus is for a 0.4% decrease in prices, and a 0.1% increase in core PPI.

8:30 AM: NY Fed Empire Manufacturing Survey for January. The consensus is for a reading of 5.0, up from -3.6 last month (above zero is expansion).

10:00 AM: the Philly Fed manufacturing survey for January. The consensus is for a reading of 18.8, down from 24.3 last month (above zero indicates expansion).

----- Friday, January 16th -----

8:30 AM: Consumer Price Index for December. The consensus is for a 0.4% decrease in CPI, and for core CPI to increase 0.1%.

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

This graph shows industrial production since 1967.

The consensus is for no change in Industrial Production, and for Capacity Utilization to decrease to 80.0%.

9:55 AM: Reuter's/University of Michigan's Consumer sentiment index (preliminary for January). The consensus is for a reading of 94.1, up from 93.6 in December.