Schedule for Week of May 15, 2016

The key economic reports this week are April housing starts on Tuesday, and April Existing Home Sales on Friday.

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

----- Monday, May 16th -----
8:30 AM: the New York Fed Empire State manufacturing survey for May. The consensus is for a reading of 7.0, down from 9.5.

10:00 AM: The May NAHB homebuilder survey. The consensus is for a reading of  59, up from 58 in April.  Any number above 50 indicates that more builders view sales conditions as good than poor.

----- Tuesday, May 17th -----
8:30 AM: Housing Starts for April.

Total housing starts decreased to 1.089 million (SAAR) in March. Single family starts decreased to 764 thousand SAAR in March.

The consensus for 1.135 million, up from the March rate.

8:30 AM: The Consumer Price Index for May from the BLS. The consensus is for a 0.3% increase in CPI, and a 0.2% increase in core CPI.

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 0.2% increase in Industrial Production, and for Capacity Utilization to increase to 74.9%.

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

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

2:00 PM: the Fed will release the FOMC Minutes for the meeting of April 26-27, 2016

----- Thursday, May 19th -----
8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 275 thousand initial claims, down from 294 thousand the previous week.

8:30 AM: the Philly Fed manufacturing survey for May. The consensus is for a reading of 3.0, up from -1.6.

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

----- Friday, May 20th -----
10:00 AM: Existing Home Sales for April from the National Association of Realtors (NAR). The consensus is for 5.40 million SAAR, up from 5.33 million in March.

10:00 AM: Regional and State Employment and Unemployment for April 2016



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