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Saturday, December 03, 2011

Schedule for Week of Dec 4th

by Calculated Risk on 12/03/2011 04:30:00 PM

Summary for Week ending Dec 2nd

European policymakers are meeting again this week, and an announcement of additional measures is expected by Friday, December 9th.

This will be a light week for economic releases. The key economic releases this week are the November ISM service index on Monday, and the October trade balance report on Friday. Also consumer sentiment might recover some more in early December (released on Friday).

The Federal Reserve will release the Q3 Flow of Funds report on Thursday.

----- Monday, Dec 5th -----

ISM Non-Manufacturing Index 10:00 AM: ISM non-Manufacturing Index for November. The consensus is for an increase to 53.8 from 52.9 in October. Note: Above 50 indicates expansion, below 50 contraction.

This graph shows the ISM non-manufacturing index (started in January 2008) and the ISM non-manufacturing employment diffusion index.

10:00 AM: Manufacturers' Shipments, Inventories and Orders (Factory Orders) for October. The consensus is for a 0.3% decline in orders.

12:10 PM: Chicago Fed President Charles Evans speaks on the US economic outlook, Ball State Economic Luncheon.

----- Tuesday, Dec 6th -----

No releases scheduled.

----- Wednesday, Dec 7th -----

7:00 AM: The Mortgage Bankers Association (MBA) will release the mortgage purchase applications index. This index has been especially weak since early August, although this doesn't include cash buyers.

3:00 PM: Consumer Credit for October. The consensus is for a $7.5 billion increase in consumer credit.

----- Thursday, Dec 8th -----

8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for a slight decrease to 395,000 from 402,000 last week. The 4-week average has recently declined to slightly below 400,000.

10:00 AM: Monthly Wholesale Trade: Sales and Inventories for October. The consensus is for a 0.3% increase in inventories.

12:00 PM: Q3 Flow of Funds Accounts from the Federal Reserve.

----- Friday, Dec 9th -----

U.S. Trade Exports Imports8:30 AM: Trade Balance report for Octrober from the Census Bureau.

Exports increased in September, and imports have been mostly moving sideways for the last five months (seasonally adjusted).

The consensus is for the U.S. trade deficit to be around $43.5 billion in October, up from from $43.1 billion in September. Export activity to Europe will be closely watched.

Consumer Sentiment 9:55 AM: Reuters/University of Mich Consumer Sentiment preliminary for December.

Consumer sentiment declined sharply in July and August - from 71.5 in June to 55.7 in August, but has rebounded some since then.

The consensus is for an increase in December to 66.0 from 64.1 in November.