by Calculated Risk on 6/11/2016 08:09:00 AM

The key economic reports this week are May Retail Sales on Tuesday, the Consumer Price Index (CPI) on Thursday, and May housing starts on Friday.

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

The FOMC meets on Tuesday and Wednesday, and no change to policy is expected at this meeting.

----- Monday, June 13th -----
No economic releases are scheduled.

----- Tuesday, June 14th -----
9:00 AM ET: NFIB Small Business Optimism Index for May.

8:30 AM ET: Retail sales for May will be released.  The consensus is for retail sales to increase 0.3% in May.

This graph shows retail sales since 1992 through April 2016. On a monthly basis, retail sales were up 1.3% from March to April (seasonally adjusted), and sales were up 3.0% from April 2015.

10:00 AM: Manufacturing and Trade: Inventories and Sales (business inventories) report for April.  The consensus is for a 0.2% increase in inventories.

----- Wednesday, June 15th -----
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

8:30 AM: The Producer Price Index for May from the BLS. The consensus is for a 0.3% increase in prices, and a 0.2% increase in core PPI.

8:30 AM: the New York Fed Empire State manufacturing survey for June. The consensus is for a reading of -3.5, up from -9.0.

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

This graph shows industrial production since 1967.

The consensus is for a 0.1% decrease in Industrial Production, and for Capacity Utilization to decrease to 75.2%.

2:00 PM: FOMC Meeting Announcement.  No change to the Fed Funds rate is expected 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 16th -----
8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 270 thousand initial claims, up from 264 thousand the previous week.

8:30 AM: The Consumer Price Index for May from the BLS. The consensus is for a 0.3% increase in CPI, and a 0.2% increase in core CPI.

8:30 AM: the Philly Fed manufacturing survey for June. The consensus is for a reading of 2.0, up from -1.8.

10:00 AM: The June NAHB homebuilder survey. The consensus is for a reading of  59, up from 58 in May.  Any number above 50 indicates that more builders view sales conditions as good than poor.

----- Friday, June 17th -----
8:30 AM: Housing Starts for May.

Total housing starts increased to 1.172 million (SAAR) in April. Single family starts increased to 778 thousand SAAR in April.

The consensus for 1.160 million, down from the April rate.

10:00 AM: Regional and State Employment and Unemployment for May 2016