Schedule for Week of December 10, 2023

by Calculated Risk on 12/09/2023 08:11:00 AM

The key economic reports this week are November CPI and Retail Sales.

For manufacturing, November Industrial Production, and the December New York Fed survey will be released this week.

The FOMC meets this week and no change to policy is expected.

8:30 AM: The Consumer Price Index for November from the BLS. The consensus is for no change in CPI, and a 0.3% increase in core CPI.  The consensus is for CPI to be up 3.0% year-over-year and core CPI to be up 4.0% YoY.

8:30 AM: The Producer Price Index for November from the BLS. The consensus is for a 0.1% increase in PPI, and a 0.2% increase in core PPI.

2:00 PM: FOMC Meeting Announcement. No change to policy is expected 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.

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 initial weekly unemployment claims report will be released. The consensus is for 220 thousand, unchanged from 220 thousand last week.

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

This graph shows industrial production since 1967.

The consensus is for a 0.2% increase in Industrial Production, and for Capacity Utilization to increase to 79.1%.