by Calculated Risk on 12/20/2025 07:37:00 AM

Happy Holidays and Merry Christmas!

Special Note: There is still uncertainty on when some economic reports will be released. For example, we are still missing housing starts and new home sales for September, October and November.

The key economic report this week is Q3 GDP.

----- Monday, December 22nd -----
8:30 AM: Chicago Fed National Activity Index for November. This is a composite index of other data.

----- Tuesday, December 23rd -----
8:30 AM: Durable Goods Orders for November.  The consensus is for a 0.4% increase.

8:30 AM: Gross Domestic Product, 3rd Quarter 2025 (Initial Estimate) and Corporate Profits (Preliminary). The consensus is that real GDP increased 3.2% annualized in Q3, down from 3.8% in Q2.

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

This graph shows industrial production since 1967.

The consensus is for a 0.1% increase in Industrial Production, and for Capacity Utilization to be unchanged at 75.9%.

10:00 AM: Richmond Fed Survey of Manufacturing Activity for December.

----- Wednesday, December 24th -----
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 225,000 initial claims, up from 224,000 last week.

The NYSE and the NASDAQ will close early at 1:00 PM ET.

----- Thursday, December 25th -----
All US markets will be closed in observance of the Christmas Holiday.

----- Friday, December 26th -----
No major economic releases scheduled.