by Calculated Risk on 6/13/2015 08:11:00 AM

The key economic report this week is May Housing Starts on Tuesday.

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

For prices, May CPI will be released on Thursday.

The FOMC meets on Tuesday and Wednesday this week.

----- Monday, June 15th -----
8:30 AM: NY Fed Empire State Manufacturing Survey for June. The consensus is for a reading of 5.9, up from 3.1 last month (above zero is expansion).



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

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 78.4%.

10:00 AM: The June NAHB homebuilder survey. The consensus is for a reading of 56, up from 54 last month.  Any number above 50 indicates that more builders view sales conditions as good than poor.

----- Tuesday, June 16th -----
8:30 AM: Housing Starts for May.

Total housing starts increased to 1.135 million (SAAR) in April. Single family starts increased to 733 thousand SAAR in April.

The consensus is for total housing starts to decrease to 1.090 million (SAAR) in May.

----- Wednesday, June 17th -----
7:00 AM: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

2:00 PM: FOMC Meeting Announcement.  The FOMC is expected to make no change to policy.

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, June 18th -----
8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for claims to decrease to 275 thousand from 279 thousand.

8:30 AM: The Consumer Price Index for May from the BLS. The consensus is for a 0.5% increase in prices, and a 0.2% increase in core CPI.

10:00 AM: the Philly Fed manufacturing survey for May. The consensus is for a reading of 8.0, up from 6.7 last month (above zero indicates expansion).

----- Friday, June 19th -----
10:00 AM: Regional and State Employment and Unemployment (Monthly), May 2015