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Schedule for Week of Dec 18, 2016

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The key economic reports this week are November New and Existing Home sales.

Happy Holidays and Merry Christmas!

—– Monday, Dec 19th —–

1:30 PM ET, Speech by Fed Chair Janet Yellen, The State of the Job Market, At the University of Baltimore 2016 Midyear Commencement, Baltimore, Maryland

—– Tuesday, Dec 20th—–

No economic releases are scheduled.

—– Wednesday, Dec 21st —–

7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

Existing Home Sales10:00 AM: Existing Home Sales for November from the National Association of Realtors (NAR). The consensus is for 5.53 million SAAR, down from 5.60 million in October.

Housing economist Tom Lawler expects the NAR to report sales of 5.60 million SAAR in November, unchanged from October’s preliminary pace.

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

—– Thursday, Dec 22nd —–

8:30 AM ET: The initial weekly unemployment claims report will be released.  The consensus is for 256 thousand initial claims, up from 254 thousand the previous week.

8:30 AM: Gross Domestic Product, 3rd quarter 2016 (third estimate). The consensus is that real GDP increased 3.3% annualized in Q3, revised from 3.2% in the second estimate.

8:30 AM: Durable Goods Orders for November from the Census Bureau. The consensus is for a 4.0% decrease in durable goods orders.

8:30 AM: Chicago Fed National Activity Index for November. This is a composite index of other data.

9:00 AM: FHFA House Price Index for October 2016. This was originally a GSE only repeat sales, however there is also an expanded index.  The consensus is for a 0.5% month-to-month increase for this index.

10:00 AM: Personal Income and Outlays for November. The consensus is for a 0.3% increase in personal income, and for a 0.3% increase in personal spending. And for the Core PCE price index to increase 0.1%.

11:00 AM: the Kansas City Fed manufacturing survey for December.

—– Friday, Dec 23rd —–

New Home Sales10:00 AM ET: New Home Sales for November from the Census Bureau.

This graph shows New Home Sales since 1963. The dashed line is the October sales rate.

The consensus is for an increase in sales to 580 thousand Seasonally Adjusted Annual Rate (SAAR) in November from 563 thousand in October.

10:00 AM: University of Michigan’s Consumer sentiment index (final for December). The consensus is for a reading of 98.0, unchanged from the preliminary reading 98.0.
Calculated Risk

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