by Calculated Risk on 6/12/2021 08:11:00 AM

The key reports this week are May Retail sales and Housing Starts.

For manufacturing, the Industrial Production report, and the NY 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 14th -----
No major economic releases scheduled.

----- Tuesday, June 15th -----
8:30 AM: The Producer Price Index for May from the BLS. The consensus is for a 0.6% increase in PPI, and a 0.6% increase in core PPI.

8:30 AM: The New York Fed Empire State manufacturing survey for June. The consensus is for a reading of 22.0, down from 24.3.

8:30 AM: Retail sales for May is scheduled to be released.  The consensus is for 0.4% decrease in retail sales.

This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline). Retail sales ex-gasoline were up 0.1% in April.

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 0.6% increase in Industrial Production, and for Capacity Utilization to increase to 75.1%.

10:00 AM: The June NAHB homebuilder survey. The consensus is for a reading of 83, unchanged from 83 last month. Any number below 50 indicates that more builders view sales conditions as poor than good.

----- Wednesday, June 16th -----
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

8:30 AM ET: Housing Starts for May.

This graph shows single and total housing starts since 1968.

The consensus is for 1.630 million SAAR, up from 1.569 million SAAR in April.

2:00 PM: FOMC Meeting Announcement. No change to policy 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 Jerome Powell holds a press briefing following the FOMC announcement.

----- Thursday, June 17th -----
8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for a decrease to 365 thousand from 376 thousand last week.

8:30 AM: the Philly Fed manufacturing survey for June. The consensus is for a reading of 31.0, down from 31.5.

----- Friday, June 18th -----
No major economic releases scheduled.