Schedule for Week of May 14, 2023

The key reports this week are April Retail Sales, Housing Starts and Existing Home Sales.

For manufacturing, April Industrial Production, and the May NY and Philly Fed manufacturing surveys will be released.

Fed Chair Powell speaks on Friday.

----- Monday, May 15th -----
8:30 AM: The New York Fed Empire State manufacturing survey for May. The consensus is for a reading of -2.0, down from 10.8.

11:00 AM: NY Fed: Q1 Quarterly Report on Household Debt and Credit

----- Tuesday, May 16th -----
8:30 AM ET: Retail sales for April is scheduled to be released.  The consensus is for 0.6% increase 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 were down 0.6% in March (revised).

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

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 79.7%.

10:00 AM: The May NAHB homebuilder survey. The consensus is for a reading of 45 unchanged from 45 last month.  Any number below 50 indicates that more builders view sales conditions as poor than good.

----- Wednesday, May 17th -----
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 April.

This graph shows single and total housing starts since 2000.

The consensus is for 1.396 million SAAR, down from 1.420 million SAAR in March.

----- Thursday, May 18th -----
8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 253 thousand initial claims, down from 264 thousand last week.

8:30 AM: the Philly Fed manufacturing survey for May. The consensus is for a reading of -21.1, up from -31.3.

10:00 AM: Existing Home Sales for April from the National Association of Realtors (NAR). The consensus is for 4.30 million SAAR, down from 4.44 million.

The graph shows existing home sales from 1994 through the report last month.

----- Friday, May 19th -----
10:00 AM: State Employment and Unemployment (Monthly) for April 2023

11:00 AM: Discussion, Conversation with Chair Jerome Powell and Ben Bernanke, former Chair of the Board of Governors of the Federal Reserve System At the Thomas Laubach Research Conference, Washington, D.C.