by Calculated Risk on 7/10/2021 07:50:00 AM

The key reports this week are June CPI and retail sales.

For manufacturing, the June Industrial Production report and the July New York and Philly Fed manufacturing surveys will be released.

Fed Chair Jerome Powell testifies to Congress on Wednesday and Thursday.

----- Monday, July 12th -----
No major economic releases scheduled.

----- Tuesday, July 13th -----
6:00 AM ET: NFIB Small Business Optimism Index for June.

8:30 AM: The Consumer Price Index for June from the BLS. The consensus is for a 0.5% increase in CPI, and a 0.4% increase in core CPI.

----- Wednesday, July 14th -----
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 June from the BLS. The consensus is for a 0.5% increase in PPI, and a 0.5% increase in core PPI.

12:00 PM: Testimony, Fed Chair Jerome Powell, Semiannual Monetary Policy Report to the Congress, Before the U.S. House Committee on Financial Services

2:00 PM: the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts.

----- Thursday, July 15th -----
8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for a decrease to 350 thousand from 373 thousand last week.

8:30 AM: The New York Fed Empire State manufacturing survey for July. The consensus is for a reading of 18.7, up from 17.4.

8:30 AM: the Philly Fed manufacturing survey for July. The consensus is for a reading of 28.0, down from 30.7.

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

This graph shows industrial production since 1967.

The consensus is for a 0.7% increase in Industrial Production, and for Capacity Utilization to increase to 75.6%.

9:30 AM: Testimony, Fed Chair Jerome Powell, Semiannual Monetary Policy Report to the Congress, Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate

----- Friday, July 16th -----
8:30 AM: Retail sales for June 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 down 1.5% in May.

10:00 AM: University of Michigan's Consumer sentiment index (Preliminary for July).

10:00 AM: State Employment and Unemployment (Monthly) for June 2020