Here is a summary of the economic news to come in the following week
Monday 12/19:
The December Housing Market Index will be released by the National Association of Home Builders. The predicted reading is 33, which is the same as November's. The index has consistently decreased this year and is now at its lowest point since the pandemic began. Rising mortgage rates and affordability issues have caused home builders to be pessimistic about the housing market's future.
Tuesday 12/20:
Nike reports second-quarter fiscal-2023 results.
FedEx, and General Mills report quarterly results.
The Bank of Japan announces its monetary-policy decision. The BOJ is widely expected to maintain its current short-term interest rate of negative 0.1% rather than following the trend of central banks tightening rates.
The Census Bureau reports November residential construction data. Economists forecast that private housing starts occurred at a seasonally adjusted annual rate of 1.41 million last month, slightly lower than the previous month
Wednesday 12/21:
Cintas and Micron Technology release their earnings
Conference Board releases their Consumer Confidence Index for December. Expectations are for a 99 reading, about one point less than in November. The index has rebounded from its summer lows, but is down sharply over the past year.
The National Association of Realtors also reports their existing home sales for November, with the consensus call being a seasonally adjusted annual rate of 4.2 million, 230,000 below October's
Thursday 12/22:
CarMax and Paychex hold conference calls to discuss their quarterly
Bureau of Economic Analysis releases their third and final estimate for third-quarter gross domestic product. The GDP growth rate is expected to remain unchanged from the second estimate at an annualized 2.9%.
Friday 12/23:
The Bureau of Economic Analysis (BEA) will release data on personal income and expenditures for November, with both income and spending expected to have increased by 0.4% compared to the previous month. In October, there were gains of 0.7% and 0.8% for income and spending, respectively. The core personal-consumption expenditures price index, which is the Federal Reserve's preferred measure of inflation, is predicted to be 4.7% higher year over year, a decrease from the previous rate of 5%
The Census Bureau also releases the durable goods report for November, with economists forecasting that new orders for manufactured-durable goods declined 0.7% month over month to $275.5 billion.
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Detailed Economic Calendar for the Coming Week
Detailed Economic Calendar for the Coming Week
Detailed Economic Calendar for the Coming Week
Here is a summary of the economic news to come in the following week
Monday 12/19:
The December Housing Market Index will be released by the National Association of Home Builders. The predicted reading is 33, which is the same as November's. The index has consistently decreased this year and is now at its lowest point since the pandemic began. Rising mortgage rates and affordability issues have caused home builders to be pessimistic about the housing market's future.
Tuesday 12/20:
Nike reports second-quarter fiscal-2023 results.
FedEx, and General Mills report quarterly results.
The Bank of Japan announces its monetary-policy decision. The BOJ is widely expected to maintain its current short-term interest rate of negative 0.1% rather than following the trend of central banks tightening rates.
The Census Bureau reports November residential construction data. Economists forecast that private housing starts occurred at a seasonally adjusted annual rate of 1.41 million last month, slightly lower than the previous month
Wednesday 12/21:
Cintas and Micron Technology release their earnings
Conference Board releases their Consumer Confidence Index for December. Expectations are for a 99 reading, about one point less than in November. The index has rebounded from its summer lows, but is down sharply over the past year.
The National Association of Realtors also reports their existing home sales for November, with the consensus call being a seasonally adjusted annual rate of 4.2 million, 230,000 below October's
Thursday 12/22:
CarMax and Paychex hold conference calls to discuss their quarterly
Bureau of Economic Analysis releases their third and final estimate for third-quarter gross domestic product. The GDP growth rate is expected to remain unchanged from the second estimate at an annualized 2.9%.
Friday 12/23:
The Bureau of Economic Analysis (BEA) will release data on personal income and expenditures for November, with both income and spending expected to have increased by 0.4% compared to the previous month. In October, there were gains of 0.7% and 0.8% for income and spending, respectively. The core personal-consumption expenditures price index, which is the Federal Reserve's preferred measure of inflation, is predicted to be 4.7% higher year over year, a decrease from the previous rate of 5%
The Census Bureau also releases the durable goods report for November, with economists forecasting that new orders for manufactured-durable goods declined 0.7% month over month to $275.5 billion.
If you're interested in staying up-to-date with my writing, I would really appreciate it if you could consider subscribing.
Also, if you enjoy the content, I would be grateful if you could give it a like or share it with your friends.
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