by Calculated Risk on 9/14/2024 08:11:00 AM

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

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

The FOMC meets this week and is expected to cut rates.

----- Monday, September 16th -----
8:30 AM ET: The New York Fed Empire State manufacturing survey for September. The consensus is for a reading of -4.0, up from -4.7.


----- Tuesday, September 17th -----
8:30 AM ET: Retail sales for August will be released.  The consensus is for a 0.2% 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).

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

This graph shows industrial production since 1967.

The consensus is for a 0.1% increase in Industrial Production, and for Capacity Utilization to increase to 77.9%.

10:00 AM: The September NAHB homebuilder survey. The consensus is for a reading of 40, up from 39 in August. Any number below 50 indicates that more builders view sales conditions as poor than good.

----- Wednesday, September 18th -----
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

8:30 AM: Housing Starts for August.

This graph shows single and total housing starts since 1968.

The consensus is for 1.250 million SAAR, up from 1.238 million SAAR.

During the day: The AIA's Architecture Billings Index for August (a leading indicator for commercial real estate).

2:00 PM: FOMC Meeting Announcement. The Fed is expected to cut rates 25bp 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, September 19th -----
8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for 235 thousand initial claims, up from 230 thousand last week.

8:30 AM: the Philly Fed manufacturing survey for September. The consensus is for a reading of 2.0, up from -7.0.

10:00 AM: Existing Home Sales for August from the National Association of Realtors (NAR). The consensus is for 3.85 million SAAR, down from 3.95 million in July.

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

----- Friday, September 20th -----
10:00 AM: State Employment and Unemployment (Monthly) for August 2024