Saturday, December 12, 2015

Schedule for Week of December 13th

by Bill McBride on 12/12/2015 08:31:00 AM

The focus this week will be on the FOMC announcement and press conference on Wednesday.

The key economic report this week is November housing starts on Wednesday.

For manufacturing, November Industrial Production will be released on Wednesday, and the December NY, Philly and Kansas City Fed manufacturing surveys will be released this week.

For prices, CPI will be released on Tuesday.


----- Monday, December 14th -----

No economic releases scheduled.

----- Tuesday, December 15th -----

8:30 AM: The Consumer Price Index for November from the BLS. The consensus is for no changed in CPI, and a 0.2% increase in core CPI.

8:30 AM: NY Fed Empire State Manufacturing Survey for December. The consensus is for a reading of -7.0, up from -10.7.

10:00 AM: The December NAHB homebuilder survey. The consensus is for a reading of 63, up from 62 in November.  Any number above 50 indicates that more builders view sales conditions as good than poor.

----- Wednesday, December 16th -----

7:00 AM ET: 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 November.

Total housing starts decreased to 1.060 million (SAAR) in October. Single family starts decreased to 722 thousand SAAR in October.

The consensus for 1.140 million, up from October.

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

This graph shows industrial production since 1967.

The consensus is for a 0.2% decrease in Industrial Production, and for Capacity Utilization to decrease to 77.4%.

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

2:00 PM: FOMC Meeting Announcement.  The FOMC is expected to raise the Fed Funds rate at this meeting.

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, December 17th -----

8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 270 thousand initial claims, down from 282 thousand the previous week.

10:00 AM: the Philly Fed manufacturing survey for December. The consensus is for a reading of 1.2, down from 1.9.

----- Friday, December 18th -----

10:00 AM ET: Regional and State Employment and Unemployment for November.

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