Signs of government shutdown spotty but symbolic

WASHINGTON — Symbols of American promise became emblems of American dysfunction on Saturday when a dispute in Congress over spending and immigration forced scores of federal government agencies and outposts to close their doors. The Statue of Liberty and Ellis Island turned away visitors in New York, due to what the National Park Service described […]

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Government shutdown begins and so does the finger-pointing

WASHINGTON — Americans awoke Saturday to learn that bickering politicians in Washington had failed to keep their government in business, halting all but the most essential operations and marring the one-year anniversary of President Donald Trump’s inauguration. It was a striking display of Washington dysfunction, and the finger-pointing came quickly. Trump tweeted that Democrats “wanted […]

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Schedule for Week of Jan 21, 2018

“Note: If the government is shut down, some of these releases will probably be delayed (Q4 GDP, New Home sales, etc.) 

The key economic reports this week are the advance estimate of Q4 GDP, and December new home sales and existing home sales.

For manufacturing, the January Richmond Fed and Kansas City Fed manufacturing surveys will be released this week.

—– Monday, Jan 22nd —–

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

—– Tuesday, Jan 23rd—–

10:00 AM ET: Richmond Fed Survey of Manufacturing Activity for January.

10:00 AM: State Employment and Unemployment (Monthly) for December 2017

—– Wednesday, Jan 24th —–

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

9:00 AM ET: FHFA House Price Index for November 2017. This was originally a GSE only repeat sales, however there is also an expanded index.

Existing Home Sales10:00 AM: Existing Home Sales for December from the National Association of Realtors (NAR). The consensus is for 5.75 million SAAR, down from 5.81 million in November.

The graph shows existing home sales from 1994 through the report last month.

Housing economist Tom Lawler expects the NAR to report sales of 5.66 million SAAR for December.

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

—– Thursday, Jan 25th —–

8:30 AM ET: The initial weekly unemployment claims report will be released.  The consensus is for 240 thousand initial claims, up from 220 thousand the previous week.

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

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

The consensus is for 683 thousand SAAR, down from 733 thousand in November.

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

—– Friday, Jan 26th —–

8:30 AM: Gross Domestic Product, 4th quarter 2017 (Advance estimate). The consensus is that real GDP increased 2.9% annualized in Q4, down from 3.2% in Q3.

8:30 AM: Durable Goods Orders for November from the Census Bureau. The consensus is for a 0.8% increase in durable goods orders.

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