Schedule for Week of June 11, 2023

The key reports this week are May Retail sales and CPI.

For manufacturing, Industrial Production, and the NY and Philly Fed manufacturing surveys, will be released this week.

The FOMC meets on Tuesday and Wednesday, and rates are expected to be unchanged.

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

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

8:30 AM: The Consumer Price Index for May from the BLS. The consensus is for 0.3% increase in CPI (up 4.9% YoY), and a 0.4% increase in core CPI (up 5.5% YoY).

----- Wednesday, June 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 May from the BLS. The consensus is for a 0.2% increase in PPI, and a 0.2% increase in core PPI.

2:00 PM: FOMC Statement. The FOMC is expected to leave the Fed Funds rate unchanged at this meeting.

2:00 PM: FOMC Projections 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 15th -----
8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 266 thousand initial claims, up from 261 thousand last week.

8:30 AM: Retail sales for May is scheduled to be released.  The consensus is for a no change in retail sales.

This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline). 

8:30 AM: The New York Fed Empire State manufacturing survey for June. The consensus is for a reading of -15.6, up from -31.8.

8:30 AM: the Philly Fed manufacturing survey for June. The consensus is for a reading of -12.3, down from -10.4.

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% increase in Industrial Production, and for Capacity Utilization to be unchanged at 79.7%.

----- Friday, June 16th -----
10:00 AM: State Employment and Unemployment (Monthly) for May 2022

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