by Bill McBride on 3/11/2017 08:11:00 AM
Saturday, March 11, 2017
The key economic reports this week are Retail Sales, Housing Starts, and the Consumer Price Index (CPI).
For manufacturing, February industrial production, and the March New York, and Philly Fed manufacturing surveys, will be released this week.
The FOMC meets on Tuesday and Wednesday, and the FOMC is expected to raise rates at this meeting.
10:00 AM ET: The Fed will release the monthly Labor Market Conditions Index (LMCI).
10:00 AM: Regional and State Employment and Unemployment (Monthly) for January 2017
6:00 AM ET: NFIB Small Business Optimism Index for February.
8:30 AM: The Producer Price Index for February from the BLS. The consensus is for 0.1% increase in PPI, and a 0.2% increase in core PPI.
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
8:30 AM ET: Retail sales for February will be released. The consensus is for 0.2% increase in retail sales in February.
This graph shows retail sales since 1992 through January 2017.
8:30 AM: The Consumer Price Index for February from the BLS. The consensus is for 0.1% increase in CPI, and a 0.2% increase in core CPI.
8:30 AM ET: The New York Fed Empire State manufacturing survey for March. The consensus is for a reading of 15.7, down from 18.7.
10:00 AM: The March NAHB homebuilder survey. The consensus is for a reading of 66, up from 65 in February. Any number above 50 indicates that more builders view sales conditions as good than poor.
10:00 AM: Manufacturing and Trade: Inventories and Sales (business inventories) report for January. The consensus is for a 0.3% increase in inventories.
2:00 PM: FOMC Meeting Announcement. The FOMC is expected to increase the Fed Funds rate 25 bps 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.
8:30 AM: Housing Starts for February.
The consensus is for 1.266 million, up from the January rate of 1.246 million.
8:30 AM ET: The initial weekly unemployment claims report will be released. The consensus is for 242 thousand initial claims, down from 243 thousand the previous week.
8:30 AM: the Philly Fed manufacturing survey for March. The consensus is for a reading of 32.5, down from 43.3.
10:00 AM: Job Openings and Labor Turnover Survey for January 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 were mostly unchanged in December at 5.501 million compared to 5.505 million in November.
The number of job openings (yellow) were up 4% year-over-year, and Quits were down 3% year-over-year.
9:15 AM: The Fed will release Industrial Production and Capacity Utilization for February.
This graph shows industrial production since 1967.
The consensus is for a 0.2% increase in Industrial Production, and for Capacity Utilization to increase to 75.4%.
10:00 AM: University of Michigan's Consumer sentiment index (preliminary for March). The consensus is for a reading of 97.0, up from 96.3 in February.