Saturday, June 10, 2017

Schedule for Week of June 11, 2017

by Bill McBride on 6/10/2017 08:11:00 AM

The key economic reports this week are May Housing Starts, Retail Sales and the Consumer Price Index (CPI).

For manufacturing, May industrial production, and the June New York, and Philly Fed manufacturing surveys, will be released this week.

The FOMC meets this week and is expected to announce a 25bps increase in the Fed Funds rate.

----- Monday, June 12th -----

No major economic releases scheduled.

----- Tuesday, June 13th -----

6:00 AM ET: NFIB Small Business Optimism Index for May.

8:30 AM: The Producer Price Index for May from the BLS. The consensus is for 0.1% increase in PPI, and a 0.2% increase in core PPI.

----- Wednesday, June 14th -----

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

Retail Sales8:30 AM ET: Retail sales for May will be released.  The consensus is for a 0.2% increase in retail sales.

This graph shows retail sales since 1992 through April 2017.

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

10:00 AM: Manufacturing and Trade: Inventories and Sales (business inventories) report for April.  The consensus is for a 0.1% decrease 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.

----- Thursday, June 15th -----

8:30 AM ET: The initial weekly unemployment claims report will be released. The consensus is for 242 thousand initial claims, down from 245 thousand the previous week.

8:30 AM: The New York Fed Empire State manufacturing survey for June. The consensus is for a reading of 5.0, up from -1.0.

8:30 AM: the Philly Fed manufacturing survey for June. The consensus is for a reading of 27.0, down from 38.8.

Industrial Production9:15 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 76.8%.

10:00 AM: The June NAHB homebuilder survey. The consensus is for a reading of 70, unchanged from 70 in May. Any number above 50 indicates that more builders view sales conditions as good than poor.

----- Friday, June 16th -----

Total Housing Starts and Single Family Housing Starts8:30 AM: Housing Starts for May. The consensus is for 1.221 million, up from the April rate of 1.172 million.

This graph shows total and single unit starts since 1968.

The graph shows the huge collapse following the housing bubble, and then - after moving sideways for a couple of years - housing is now recovering.

10:00 AM: Regional and State Employment and Unemployment (Monthly) for May 2017

10:00 AM: University of Michigan's Consumer sentiment index (preliminary for June). The consensus is for a reading of 97.1, unchanged from 97.1 in May.