Saturday, March 14, 2015

Schedule for Week of March 15, 2015

by Bill McBride on 3/14/2015 10:00:00 AM

The key economic report this week is February housing starts on Tuesday.

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

The FOMC meets on Tuesday and Wednesday.

----- Monday, March 16th -----

8:30 AM: NY Fed Empire State Manufacturing Survey for March. The consensus is for a reading of 7.0, down from 7.8 last month (above zero is expansion).

Industrial Production9:15 AM: The Fed will release Industrial Production and Capacity Utilization for February.

This graph shows industrial production since 1967.

The consensus is for a 0.3% increase in Industrial Production, and for Capacity Utilization to increase to 79.5%.

10:00 AM: The March NAHB homebuilder survey. The consensus is for a reading of 56, up from 55 last month.  Any number above 50 indicates that more builders view sales conditions as good than poor.

----- Tuesday, March 17th -----

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

Total housing starts were at 1.065 million (SAAR) in January. Single family starts were at 678 thousand SAAR in January.

The consensus is for total housing starts to decrease to 1.040 million (SAAR) in February.

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

----- Wednesday, March 18th -----

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

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

2:00 PM: FOMC Meeting Announcement.  The FOMC is expected to make no change to policy, however the word "patient" will probably be removed from the statement opening the possibility of a rate hike as early as June.

2:00 PM: FOMC Forecasts This will include the Federal Open Market Committee (FOMC) participants' projections of the appropriate target federal funds rate along with the quarterly economic projections.

2:30 PM: Fed Chair Janet Yellen holds a press briefing following the FOMC announcement.

----- Thursday, March 19th -----

8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for claims to increase to 293 thousand from 289 thousand.

10:00 AM: the Philly Fed manufacturing survey for February. The consensus is for a reading of 7.0, up from 5.2 last month (above zero indicates expansion).

----- Friday, March 20th -----

No economic releases scheduled.