by Calculated Risk on 11/15/2025 08:11:00 AM
SPECIAL NOTE: The statistical agencies will likely provide updated schedules this week. I’ll update this schedule when that happens. The September employment report will be released this week on Thursday.
The key economic reports this week are Existing Home sales and the (likely) September employment report.
For manufacturing, Industrial Production, and the November NY, Philly and Kansas City Fed surveys, will be released this week.
Items in Red will not be released due to the government shutdown.
—– Monday, November 17th —–
8:30 AM: The New York Fed Empire State manufacturing survey for November. The consensus is for a reading of 5.7, down from 10.7.
10:00 AM: Construction Spending for September.
—– Tuesday, November 18th —–
8:30 AM: Housing Starts for October.
This graph shows single and total housing starts since 1968.
This will be 2nd consecutive months without housing start data.
9:15 AM: The Fed will release Industrial Production and Capacity Utilization for October.
This graph shows industrial production since 1967.
The consensus is for no change in Industrial Production, and for Capacity Utilization to decrease to 77.3%.
10:00 AM: The November NAHB homebuilder survey. The consensus is for a reading of 36, down from 37. Any number below 50 indicates that more builders view sales conditions as poor than good.
—– Wednesday, November 19th —–
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
8:30 AM: Trade Balance report for August from the Census Bureau. The consensus is for the deficit to be $61.4 billion in August, from $78.3 billion in July.
This graph shows the U.S. trade deficit, with and without petroleum, through the most recent report. The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.
During the day: The AIA’s Architecture Billings Index for October (a leading indicator for commercial real estate).
2:00 PM: FOMC MinutesMeeting of October 28-29
—– Thursday, November 20th —–
8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for 223K initial claims.
8:30 AM: Employment Report for September. The consensus is for 43,000 jobs added, and for the unemployment rate to be unchanged at 4.3%.
There were 22,000 jobs added in August, and the unemployment rate was at 4.3%.
This graph shows the jobs added per month since January 2021.
8:30 AM: the Philly Fed manufacturing survey for November. The consensus is for a reading of 2.0, up from -12.8.
10:00 AM: Existing Home Sales for October from the National Association of Realtors (NAR). The consensus is for 4.08 million SAAR, up from 4.06 million in September.
The graph shows existing home sales from 1994 through the report last month.
11:00 AM: the Kansas City Fed manufacturing survey for November.
—– Friday, November 21st —–
10:00 AM: University of Michigan’s Consumer sentiment index (Final for November).
