Economic Calendar
Every scheduled US release that moves rates and stocks: when it lands, what it measures, and what the last figure said. Each release becomes a card the evening it comes out.
Mon 9 Nov to Fri 13 Nov
Times in New York (ET) and London (UK). Before a release you see the last figure; once it is out you see the new one, and the same rule line as its card below.
No major US releases on Mon 9 Nov, Wed 11 Nov.
Tue 10 Nov 1 release
About
Thu 12 Nov 1 release
About
Fri 13 Nov 1 release
About
Where the economy sits, and how it is changing
Wrong if, and how it changed
What came out, newest first
Written once, from the first print, never edited after. Actual vs prior only: we do not show forecasts. Tap a card to open it.
Fri 6 Nov · 8:30 am ETJobsLeans toward holdingHoldingOctober jobs report: payrolls +165k, from +60k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Payrolls, change | +165k | +60k | |
| Unemployment rate | 4.1% | 4.2% | |
| Hourly pay, y/y | 3.1% | 3.2% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Hiring picked up and is above its usual pace. Unemployment fell and is in its usual range. Pay growth held its pace and is inside its usual range. On its own, this gives no clear case to move rates.
Thu 5 Nov · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 189k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 189k | 195k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Tue 3 Nov · 10:00 am ETJobsLeans toward holdingHoldingSeptember job openings: 7.52m, from 7.19m
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Job openings (JOLTS) | 7.52m | 7.19m |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Job openings rose and are above their usual range. On its own, this gives no clear case to move rates.
Fri 30 Oct · 8:30 am ETJobsLeans toward cuttingCuttingQ3 employment cost index: labour costs +0.8% in the quarter, from +0.9%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Employment cost index, q/q | +0.8% | +0.9% |
Labour costs rose more slowly than last quarter and are inside their usual range. On its own, this argues for easier policy.
Thu 29 Oct · 8:30 am ETInflationLeans toward hikingHikingSeptember PCE prices: core inflation 3.1% over the year, from 3.0%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Core PCE, y/y | 3.1% | 3.0% |
The Fed's preferred price gauge rose faster than the month before and is above its usual range. On its own, this argues for tighter policy.
Thu 29 Oct · 8:30 am ETGrowthLeans toward holdingHoldingQ3 GDP, first estimate: growth at 3.4% annual rate, from 2.2%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Real GDP, annual rate (Q3) | 3.4% | 2.2% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Growth was stronger than last quarter and sits above its usual pace. On its own, this gives no clear case to move rates.
Wed 28 Oct · 2:00 pm ETFedHeldHeldFed holds its rate at 3.75-4.00%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Fed funds target range | 3.75-4.00% | 3.75-4.00% |
The Fed left its rate at 3.75-4.00%. The vote, the statement and what it means for the path of rates are on Fed Watch.
Statement and vote on Fed Watch →Tue 27 Oct · 10:00 am ETHousingLeans toward holdingHoldingSeptember new home sales: 676k a year, from 680k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| New home sales, yearly pace | 676k | 680k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
New home sales held steady and are near their usual pace. On its own, this gives no clear case to move rates.
Tue 27 Oct · 8:30 am ETGrowthLeans toward holdingHoldingSeptember durable goods: orders +1.8% in the month, from +0.1%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Durable goods orders, m/m | +1.8% | +0.1% | |
| Excluding transport, m/m | +0.5% | +0.3% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Durable goods orders were stronger than last month and are above their usual pace. Orders excluding transport held their pace and are near their usual pace. On its own, this gives no clear case to move rates.
Thu 22 Oct · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 194k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 194k | 200k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Tue 20 Oct · 8:30 am ETHousingLeans toward cuttingCuttingSeptember housing starts: 1,221k a year, from 1,288k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Housing starts, yearly pace | 1,221k | 1,288k | |
| Building permits, yearly pace | 1,400k | 1,403k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Housing starts fell and are below their usual pace. Building permits held steady and are near their usual pace. On its own, this argues for easier policy.
Fri 16 Oct · 9:15 am ETGrowthLeans toward holdingHoldingSeptember industrial production: output +0.7% in the month, from +0.1%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Industrial production, m/m | +0.7% | +0.1% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Output from factories, mines and utilities grew faster than last month and is above its usual pace. On its own, this gives no clear case to move rates.
Thu 15 Oct · 8:30 am ETSpendingLeans toward holdingHoldingSeptember retail sales: spending +0.8% in the month, from +1.3%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Retail sales, m/m | +0.8% | +1.3% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Spending grew more slowly than last month and is still above its usual pace. On its own, this gives no clear case to move rates.
Thu 15 Oct · 8:30 am ETInflationLeans toward hikingHikingSeptember PPI: producer prices +1.3% in the month, from +0.5%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| PPI final demand, m/m | +1.3% | +0.5% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Producer prices rose faster than last month and are above their usual range. On its own, this argues for tighter policy.
Thu 15 Oct · 8:30 am ETGrowthLeans toward holdingHoldingOctober Philly Fed survey: factory activity 20.9, from 37.8
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Philly Fed factory activity | 20.9 | 37.8 | |
| Philly Fed prices paid | 43.2 | 48.6 |
Factory activity slowed and is above its usual range. Prices paid by factories eased and stay high. On its own, this gives no clear case to move rates.
Wed 14 Oct · 8:30 am ETInflationLeans toward hikingHikingSeptember CPI: prices up 3.7% over the year, from 3.4%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| CPI, y/y | 3.7% | 3.4% | |
| Core CPI, y/y | 2.6% | 2.4% |
Consumer prices rose faster than the month before and are above their usual range. Core prices firmed and stay inside their usual range. On its own, this argues for tighter policy.
Fri 2 Oct · 8:30 am ETJobsLeans toward cuttingCuttingSeptember jobs report: payrolls +29k, from +133k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Payrolls, change | +29k | +133k | |
| Unemployment rate | 4.2% | 4.1% | |
| Hourly pay, y/y | 3.0% | 3.1% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Hiring slowed and is below its usual pace. Unemployment edged up and is in its usual range. Pay growth eased and is inside its usual range. On its own, this argues for easier policy.
Wed 30 Sep · 8:30 am ETInflationLeans toward holdingHoldingAugust PCE prices: core inflation 3.0% over the year, from 3.0%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Core PCE, y/y | 3.0% | 3.0% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
The Fed's preferred price gauge held its pace and is above its usual range. On its own, this gives no clear case to move rates.
Wed 30 Sep · 8:30 am ETGrowthLeans toward holdingHoldingQ2 GDP, revised estimate: growth at 2.2% annual rate, from 1.5%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Real GDP, annual rate (Q2) | 2.2% | 1.5% |
Growth was stronger than the last estimate and sits above its usual pace. On its own, this gives no clear case to move rates.
Tue 29 Sep · 10:00 am ETJobsLeans toward holdingHoldingAugust job openings: 7.08m, from 7.33m
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Job openings (JOLTS) | 7.08m | 7.33m |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Job openings fell and stay inside their usual range. On its own, this gives no clear case to move rates.
Fri 25 Sep · 8:30 am ETGrowthLeans toward holdingHoldingAugust durable goods: orders 0.0% in the month, from +0.9%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Durable goods orders, m/m | 0.0% | +0.9% | |
| Excluding transport, m/m | +0.3% | +0.7% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Durable goods orders were weaker than last month and are near their usual pace. Orders excluding transport were weaker than last month and are near their usual pace. On its own, this gives no clear case to move rates.
Thu 24 Sep · 10:00 am ETHousingLeans toward holdingHoldingAugust new home sales: 684k a year, from 643k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| New home sales, yearly pace | 684k | 643k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
New home sales rose and are near their usual pace. On its own, this gives no clear case to move rates.
Fri 18 Sep · 9:15 am ETGrowthLeans toward holdingHoldingAugust industrial production: output 0.0% in the month, from +0.2%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Industrial production, m/m | 0.0% | +0.2% |
Output from factories, mines and utilities held its pace and is near its usual pace. On its own, this gives no clear case to move rates.
Thu 17 Sep · 8:30 am ETGrowthLeans toward hikingHikingSeptember Philly Fed survey: factory activity 37.8, from 47.4
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Philly Fed factory activity | 37.8 | 47.4 | |
| Philly Fed prices paid | 48.6 | 40.9 |
Factory activity slowed and is above its usual range. Prices paid by factories rose faster and stay high. On its own, this argues for tighter policy.
Thu 17 Sep · 8:30 am ETHousingLeans toward holdingHoldingAugust housing starts: 1,275k a year, from 1,309k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Housing starts, yearly pace | 1,275k | 1,309k | |
| Building permits, yearly pace | 1,394k | 1,433k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Housing starts held steady and are below their usual pace. Building permits held steady and are near their usual pace. On its own, this gives no clear case to move rates.
Thu 17 Sep · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 196k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 196k | 206k |
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Wed 16 Sep · 2:00 pm ETFedHikedHikedFed raises its rate by 25bp to 3.75-4.00%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Fed funds target range | 3.75-4.00% | 3.50-3.75% |
The Fed raised its rate by 25bp, to 3.75-4.00%. The vote, the statement and what it means for the path of rates are on Fed Watch.
Statement and vote on Fed Watch →Wed 16 Sep · 8:30 am ETSpendingLeans toward holdingHoldingAugust retail sales: spending +1.2% in the month, from -0.5%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Retail sales, m/m | +1.2% | -0.5% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Spending grew faster than last month and is still above its usual pace. On its own, this gives no clear case to move rates.
Fri 11 Sep · 8:30 am ETInflationLeans toward holdingHoldingAugust CPI: prices up 3.4% over the year, from 3.3%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| CPI, y/y | 3.4% | 3.3% | |
| Core CPI, y/y | 2.4% | 2.5% |
Consumer prices held their pace and are above their usual range. Core prices held their pace and stay inside their usual range. On its own, this gives no clear case to move rates.
Thu 10 Sep · 8:30 am ETInflationLeans toward hikingHikingAugust PPI: producer prices +0.4% in the month, from +0.1%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| PPI final demand, m/m | +0.4% | +0.1% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Producer prices rose faster than last month and are above their usual range. On its own, this argues for tighter policy.
Fri 4 Sep · 8:30 am ETJobsLeans toward holdingHoldingAugust jobs report: payrolls +162k, from +21k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Payrolls, change | +162k | +21k | |
| Unemployment rate | 4.1% | 4.1% | |
| Hourly pay, y/y | 3.1% | 3.2% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Hiring picked up and is above its usual pace. Unemployment held steady and is in its usual range. Pay growth eased and is inside its usual range. On its own, this gives no clear case to move rates.
Tue 1 Sep · 10:00 am ETJobsLeans toward holdingHoldingJuly job openings: 7.27m, from 7.18m
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Job openings (JOLTS) | 7.27m | 7.18m |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Job openings held steady and stay inside their usual range. On its own, this gives no clear case to move rates.
Wed 26 Aug · 8:30 am ETGrowthLeans toward holdingHoldingJuly durable goods: orders +1.1% in the month, from +0.5%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Durable goods orders, m/m | +1.1% | +0.5% | |
| Excluding transport, m/m | +0.4% | +1.1% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Durable goods orders were stronger than last month and are above their usual pace. Orders excluding transport were weaker than last month and are near their usual pace. On its own, this gives no clear case to move rates.
Wed 26 Aug · 8:30 am ETInflationLeans toward holdingHoldingJuly PCE prices: core inflation 3.3% over the year, from 3.3%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Core PCE, y/y | 3.3% | 3.3% |
The Fed's preferred price gauge held its pace and is above its usual range. On its own, this gives no clear case to move rates.
Tue 25 Aug · 10:00 am ETHousingLeans toward holdingHoldingJuly new home sales: 607k a year, from 678k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| New home sales, yearly pace | 607k | 678k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
New home sales fell and are near their usual pace. On its own, this gives no clear case to move rates.
Thu 20 Aug · 8:30 am ETGrowthLeans toward holdingHoldingAugust Philly Fed survey: factory activity 47.4, from 41.4
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Philly Fed factory activity | 47.4 | 41.4 | |
| Philly Fed prices paid | 40.9 | 53.9 |
Factory activity picked up and is above its usual range. Prices paid by factories eased and stay high. On its own, this gives no clear case to move rates.
Thu 20 Aug · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 206k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 206k | 212k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Tue 18 Aug · 8:30 am ETHousingLeans toward cuttingCuttingJuly housing starts: 1,239k a year, from 1,415k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Housing starts, yearly pace | 1,239k | 1,415k | |
| Building permits, yearly pace | 1,443k | 1,374k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Housing starts fell and are below their usual pace. Building permits rose and are near their usual pace. On its own, this argues for easier policy.
Tue 18 Aug · 9:15 am ETGrowthLeans toward holdingHoldingJuly industrial production: output +0.2% in the month, from +0.3%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Industrial production, m/m | +0.2% | +0.3% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Output from factories, mines and utilities held its pace and is above its usual pace. On its own, this gives no clear case to move rates.
Fri 14 Aug · 8:30 am ETSpendingLeans toward cuttingCuttingJuly retail sales: spending -0.6% in the month, from +0.2%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Retail sales, m/m | -0.6% | +0.2% |
Spending grew more slowly than last month and is below its usual pace. On its own, this argues for easier policy.
Thu 13 Aug · 8:30 am ETInflationLeans toward holdingHoldingJuly PPI: producer prices 0.0% in the month, from -0.1%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| PPI final demand, m/m | 0.0% | -0.1% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Producer prices held their pace and are below their usual range. On its own, this gives no clear case to move rates.
Thu 13 Aug · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims rise to 209k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 209k | 200k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims rose and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Wed 12 Aug · 8:30 am ETInflationLeans toward cuttingCuttingJuly CPI: prices up 3.3% over the year, from 3.5%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| CPI, y/y | 3.3% | 3.5% | |
| Core CPI, y/y | 2.5% | 2.6% |
Consumer prices rose more slowly than the month before and are above their usual range. Core prices cooled and stay inside their usual range. On its own, this argues for easier policy.
Earlier months
August 20262 releases · 0 hiking1 holding1 cutting
Fri 7 Aug · 8:30 am ETJobsLeans toward cuttingCuttingJuly jobs report: payrolls -23k, from +20k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Payrolls, change | -23k | +20k | |
| Unemployment rate | 4.1% | 4.2% | |
| Hourly pay, y/y | 3.2% | 3.4% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Hiring slowed and is below its usual pace. Unemployment fell and is in its usual range. Pay growth eased and is inside its usual range. On its own, this argues for easier policy.
Tue 4 Aug · 10:00 am ETJobsLeans toward holdingHoldingJune job openings: 7.36m, from 7.54m
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Job openings (JOLTS) | 7.36m | 7.54m |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Job openings fell and stay inside their usual range. On its own, this gives no clear case to move rates.
July 202616 releases · 0 hiking14 holding2 cutting
Fri 31 Jul · 8:30 am ETJobsLeans toward holdingHoldingQ2 employment cost index: labour costs +0.9% in the quarter, from +0.9%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Employment cost index, q/q | +0.9% | +0.9% |
Labour costs held their pace and are inside their usual range. On its own, this gives no clear case to move rates.
Thu 30 Jul · 8:30 am ETInflationLeans toward holdingHoldingJune PCE prices: core inflation 3.3% over the year, from 3.4%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Core PCE, y/y | 3.3% | 3.4% |
The Fed's preferred price gauge rose more slowly than the month before and is above its usual range. On its own, this gives no clear case to move rates.
Thu 30 Jul · 8:30 am ETGrowthLeans toward holdingHoldingQ2 GDP, first estimate: growth at 1.5% annual rate, from 2.1%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Real GDP, annual rate (Q2) | 1.5% | 2.1% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Growth was slower than last quarter and sits near its usual pace. On its own, this gives no clear case to move rates.
Thu 30 Jul · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims rise to 197k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 197k | 188k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims rose and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Wed 29 Jul · 2:00 pm ETFedHeldHeldFed holds its rate at 3.50-3.75%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Fed funds target range | 3.50-3.75% | 3.50-3.75% |
The Fed left its rate at 3.50-3.75%. The vote, the statement and what it means for the path of rates are on Fed Watch.
Statement and vote on Fed Watch →Mon 27 Jul · 8:30 am ETGrowthLeans toward holdingHoldingJune durable goods: orders +0.3% in the month, from -4.0%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Durable goods orders, m/m | +0.3% | -4.0% | |
| Excluding transport, m/m | +0.6% | +1.8% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Durable goods orders were stronger than last month and are near their usual pace. Orders excluding transport were weaker than last month and are above their usual pace. On its own, this gives no clear case to move rates.
Fri 24 Jul · 10:00 am ETHousingLeans toward holdingHoldingJune new home sales: 628k a year, from 618k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| New home sales, yearly pace | 628k | 618k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
New home sales held steady and are near their usual pace. On its own, this gives no clear case to move rates.
Thu 23 Jul · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 187k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 187k | 209k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Fri 17 Jul · 8:30 am ETHousingLeans toward holdingHoldingJune housing starts: 1,427k a year, from 1,199k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Housing starts, yearly pace | 1,427k | 1,199k | |
| Building permits, yearly pace | 1,367k | 1,410k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Housing starts rose and are near their usual pace. Building permits held steady and are near their usual pace. On its own, this gives no clear case to move rates.
Fri 17 Jul · 9:15 am ETGrowthLeans toward holdingHoldingJune industrial production: output +0.1% in the month, from +0.1%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Industrial production, m/m | +0.1% | +0.1% |
Output from factories, mines and utilities held its pace and is near its usual pace. On its own, this gives no clear case to move rates.
Thu 16 Jul · 8:30 am ETSpendingLeans toward holdingHoldingJune retail sales: spending +0.2% in the month, from +1.0%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Retail sales, m/m | +0.2% | +1.0% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Spending grew more slowly than last month and is near its usual pace. On its own, this gives no clear case to move rates.
Thu 16 Jul · 8:30 am ETGrowthLeans toward holdingHoldingJuly Philly Fed survey: factory activity 41.4, from 10.3
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Philly Fed factory activity | 41.4 | 10.3 | |
| Philly Fed prices paid | 53.9 | 53.2 |
Factory activity picked up and is above its usual range. Prices paid by factories held steady and stay high. On its own, this gives no clear case to move rates.
Thu 16 Jul · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 208k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 208k | 216k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Wed 15 Jul · 8:30 am ETInflationLeans toward cuttingCuttingJune PPI: producer prices -0.3% in the month, from +0.6%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| PPI final demand, m/m | -0.3% | +0.6% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Producer prices rose more slowly than last month and are below their usual range. On its own, this argues for easier policy.
Tue 14 Jul · 8:30 am ETInflationLeans toward cuttingCuttingJune CPI: prices up 3.5% over the year, from 4.2%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| CPI, y/y | 3.5% | 4.2% | |
| Core CPI, y/y | 2.6% | 2.8% |
Consumer prices rose more slowly than the month before and are above their usual range. Core prices cooled and stay inside their usual range. On its own, this argues for easier policy.
Thu 2 Jul · 8:30 am ETJobsLeans toward holdingHoldingJune jobs report: payrolls +57k, from +129k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Payrolls, change | +57k | +129k | |
| Unemployment rate | 4.2% | 4.3% | |
| Hourly pay, y/y | 3.5% | 3.4% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Hiring slowed and is near its usual pace. Unemployment fell and is in its usual range. Pay growth picked up and is inside its usual range. On its own, this gives no clear case to move rates.
June 202616 releases · 3 hiking10 holding3 cutting
Tue 30 Jun · 10:00 am ETJobsLeans toward holdingHoldingMay job openings: 7.59m, from 7.58m
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Job openings (JOLTS) | 7.59m | 7.58m |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Job openings held steady and are above their usual range. On its own, this gives no clear case to move rates.
Thu 25 Jun · 8:30 am ETGrowthLeans toward cuttingCuttingMay durable goods: orders -4.5% in the month, from +8.5%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Durable goods orders, m/m | -4.5% | +8.5% | |
| Excluding transport, m/m | +1.3% | +1.4% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Durable goods orders were weaker than last month and are below their usual pace. Orders excluding transport held their pace and are above their usual pace. On its own, this argues for easier policy.
Thu 25 Jun · 8:30 am ETInflationLeans toward hikingHikingMay PCE prices: core inflation 3.4% over the year, from 3.3%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Core PCE, y/y | 3.4% | 3.3% |
The Fed's preferred price gauge rose faster than the month before and is above its usual range. On its own, this argues for tighter policy.
Thu 25 Jun · 8:30 am ETGrowthLeans toward holdingHoldingQ1 GDP, revised estimate: growth at 2.1% annual rate, from 1.6%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Real GDP, annual rate (Q1) | 2.1% | 1.6% |
Growth was stronger than the last estimate and sits above its usual pace. On its own, this gives no clear case to move rates.
Thu 25 Jun · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 215k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 215k | 227k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Wed 24 Jun · 10:00 am ETHousingLeans toward cuttingCuttingMay new home sales: 580k a year, from 626k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| New home sales, yearly pace | 580k | 626k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
New home sales fell and are below their usual pace. On its own, this argues for easier policy.
Thu 18 Jun · 8:30 am ETGrowthLeans toward hikingHikingJune Philly Fed survey: factory activity 10.3, from -0.4
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Philly Fed factory activity | 10.3 | -0.4 | |
| Philly Fed prices paid | 53.2 | 47.9 |
Factory activity picked up and is above its usual range. Prices paid by factories rose faster and stay high. On its own, this argues for tighter policy.
Wed 17 Jun · 2:00 pm ETFedHeldHeldFed holds its rate at 3.50-3.75%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Fed funds target range | 3.50-3.75% | 3.50-3.75% |
The Fed left its rate at 3.50-3.75%. The vote, the statement and what it means for the path of rates are on Fed Watch.
Statement and vote on Fed Watch →Wed 17 Jun · 8:30 am ETSpendingLeans toward holdingHoldingMay retail sales: spending +0.9% in the month, from +0.4%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Retail sales, m/m | +0.9% | +0.4% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Spending grew faster than last month and is still above its usual pace. On its own, this gives no clear case to move rates.
Tue 16 Jun · 8:30 am ETHousingLeans toward cuttingCuttingMay housing starts: 1,177k a year, from 1,392k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Housing starts, yearly pace | 1,177k | 1,392k | |
| Building permits, yearly pace | 1,413k | 1,423k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Housing starts fell and are below their usual pace. Building permits held steady and are near their usual pace. On its own, this argues for easier policy.
Mon 15 Jun · 9:15 am ETGrowthLeans toward holdingHoldingMay industrial production: output +0.1% in the month, from +0.9%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Industrial production, m/m | +0.1% | +0.9% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Output from factories, mines and utilities grew more slowly than last month and is near its usual pace. On its own, this gives no clear case to move rates.
Thu 11 Jun · 8:30 am ETInflationLeans toward holdingHoldingMay PPI: producer prices +1.1% in the month, from +1.1%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| PPI final demand, m/m | +1.1% | +1.1% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Producer prices held their pace and are above their usual range. On its own, this gives no clear case to move rates.
Wed 10 Jun · 8:30 am ETInflationLeans toward hikingHikingMay CPI: prices up 4.2% over the year, from 3.8%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| CPI, y/y | 4.2% | 3.8% | |
| Core CPI, y/y | 2.8% | 2.7% |
Consumer prices rose faster than the month before and are above their usual range. Core prices firmed and stay inside their usual range. On its own, this argues for tighter policy.
Fri 5 Jun · 8:30 am ETJobsLeans toward holdingHoldingMay jobs report: payrolls +172k, from +179k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Payrolls, change | +172k | +179k | |
| Unemployment rate | 4.3% | 4.3% | |
| Hourly pay, y/y | 3.4% | 3.6% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Hiring held its pace and is above its usual pace. Unemployment held steady and is in its usual range. Pay growth eased and is inside its usual range. On its own, this gives no clear case to move rates.
Thu 4 Jun · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims rise to 225k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 225k | 212k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims rose and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Tue 2 Jun · 10:00 am ETJobsLeans toward holdingHoldingApril job openings: 7.62m, from 6.89m
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Job openings (JOLTS) | 7.62m | 6.89m |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Job openings rose and are above their usual range. On its own, this gives no clear case to move rates.
May 202616 releases · 3 hiking13 holding0 cutting
Thu 28 May · 10:00 am ETHousingLeans toward holdingHoldingApril new home sales: 622k a year, from 663k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| New home sales, yearly pace | 622k | 663k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
New home sales fell and are near their usual pace. On its own, this gives no clear case to move rates.
Thu 28 May · 8:30 am ETGrowthLeans toward holdingHoldingApril durable goods: orders +7.9% in the month, from +1.3%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Durable goods orders, m/m | +7.9% | +1.3% | |
| Excluding transport, m/m | +1.1% | +1.1% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Durable goods orders were stronger than last month and are above their usual pace. Orders excluding transport held their pace and are above their usual pace. On its own, this gives no clear case to move rates.
Thu 28 May · 8:30 am ETInflationLeans toward hikingHikingApril PCE prices: core inflation 3.3% over the year, from 3.2%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Core PCE, y/y | 3.3% | 3.2% |
The Fed's preferred price gauge rose faster than the month before and is above its usual range. On its own, this argues for tighter policy.
Thu 28 May · 8:30 am ETGrowthLeans toward holdingHoldingQ1 GDP, revised estimate: growth at 1.6% annual rate, from 2.0%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Real GDP, annual rate (Q1) | 1.6% | 2.0% |
Growth was weaker than the last estimate and sits near its usual pace. On its own, this gives no clear case to move rates.
Thu 28 May · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims rise to 215k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 215k | 210k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims rose and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Thu 21 May · 8:30 am ETGrowthLeans toward holdingHoldingMay Philly Fed survey: factory activity -0.4, from 26.7
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Philly Fed factory activity | -0.4 | 26.7 | |
| Philly Fed prices paid | 47.9 | 59.3 |
Factory activity slowed and is inside its usual range. Prices paid by factories eased and stay high. On its own, this gives no clear case to move rates.
Thu 21 May · 8:30 am ETHousingLeans toward holdingHoldingApril housing starts: 1,465k a year, from 1,507k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Housing starts, yearly pace | 1,465k | 1,507k | |
| Building permits, yearly pace | 1,442k | 1,363k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Housing starts held steady and are near their usual pace. Building permits rose and are near their usual pace. On its own, this gives no clear case to move rates.
Fri 15 May · 9:15 am ETGrowthLeans toward holdingHoldingApril industrial production: output +0.7% in the month, from -0.3%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Industrial production, m/m | +0.7% | -0.3% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Output from factories, mines and utilities grew faster than last month and is above its usual pace. On its own, this gives no clear case to move rates.
Thu 14 May · 8:30 am ETSpendingLeans toward holdingHoldingApril retail sales: spending +0.5% in the month, from +1.6%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Retail sales, m/m | +0.5% | +1.6% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Spending grew more slowly than last month and is still above its usual pace. On its own, this gives no clear case to move rates.
Thu 14 May · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims rise to 211k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 211k | 199k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims rose and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Wed 13 May · 8:30 am ETInflationLeans toward hikingHikingApril PPI: producer prices +1.4% in the month, from +0.7%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| PPI final demand, m/m | +1.4% | +0.7% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Producer prices rose faster than last month and are above their usual range. On its own, this argues for tighter policy.
Tue 12 May · 8:30 am ETInflationLeans toward hikingHikingApril CPI: prices up 3.8% over the year, from 3.3%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| CPI, y/y | 3.8% | 3.3% | |
| Core CPI, y/y | 2.7% | 2.6% |
Consumer prices rose faster than the month before and are above their usual range. Core prices firmed and stay inside their usual range. On its own, this argues for tighter policy.
Fri 8 May · 8:30 am ETJobsLeans toward holdingHoldingApril jobs report: payrolls +115k, from +185k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Payrolls, change | +115k | +185k | |
| Unemployment rate | 4.3% | 4.3% | |
| Hourly pay, y/y | 3.6% | 3.4% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Hiring slowed and is above its usual pace. Unemployment held steady and is in its usual range. Pay growth picked up and is inside its usual range. On its own, this gives no clear case to move rates.
Thu 7 May · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims rise to 200k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 200k | 190k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims rose and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Tue 5 May · 10:00 am ETHousingLeans toward holdingHoldingMarch new home sales: 682k a year, from 635k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| New home sales, yearly pace | 682k | 635k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
New home sales rose and are near their usual pace. On its own, this gives no clear case to move rates.
Tue 5 May · 10:00 am ETJobsLeans toward holdingHoldingMarch job openings: 6.87m, from 6.92m
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Job openings (JOLTS) | 6.87m | 6.92m |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Job openings held steady and stay inside their usual range. On its own, this gives no clear case to move rates.
April 202621 releases · 3 hiking16 holding2 cutting
Thu 30 Apr · 8:30 am ETInflationLeans toward hikingHikingMarch PCE prices: core inflation 3.2% over the year, from 3.0%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Core PCE, y/y | 3.2% | 3.0% |
The Fed's preferred price gauge rose faster than the month before and is above its usual range. On its own, this argues for tighter policy.
Thu 30 Apr · 8:30 am ETGrowthLeans toward holdingHoldingQ1 GDP, first estimate: growth at 2.0% annual rate, from 0.5%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Real GDP, annual rate (Q1) | 2.0% | 0.5% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Growth was stronger than last quarter and sits above its usual pace. On its own, this gives no clear case to move rates.
Thu 30 Apr · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 189k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 189k | 215k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Thu 30 Apr · 8:30 am ETJobsLeans toward holdingHoldingQ1 employment cost index: labour costs +0.9% in the quarter, from +0.7%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Employment cost index, q/q | +0.9% | +0.7% |
Labour costs rose faster than last quarter and are inside their usual range. On its own, this gives no clear case to move rates.
Wed 29 Apr · 2:00 pm ETFedHeldHeldFed holds its rate at 3.50-3.75%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Fed funds target range | 3.50-3.75% | 3.50-3.75% |
The Fed left its rate at 3.50-3.75%. The vote, the statement and what it means for the path of rates are on Fed Watch.
Statement and vote on Fed Watch →Wed 29 Apr · 8:30 am ETGrowthLeans toward holdingHoldingMarch durable goods: orders +0.8% in the month, from -1.2%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Durable goods orders, m/m | +0.8% | -1.2% | |
| Excluding transport, m/m | +0.9% | +1.2% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Durable goods orders were stronger than last month and are near their usual pace. Orders excluding transport were weaker than last month and are above their usual pace. On its own, this gives no clear case to move rates.
Wed 29 Apr · 8:30 am ETHousingLeans toward holdingHoldingMarch housing starts: 1,502k a year, from 1,356k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Housing starts, yearly pace | 1,502k | 1,356k | |
| Building permits, yearly pace | 1,372k | 1,538k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Housing starts rose and are above their usual pace. Building permits fell and are near their usual pace. On its own, this gives no clear case to move rates.
Thu 23 Apr · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims rise to 214k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 214k | 208k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims rose and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Tue 21 Apr · 8:30 am ETSpendingLeans toward holdingHoldingMarch retail sales: spending +1.7% in the month, from +0.7%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Retail sales, m/m | +1.7% | +0.7% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Spending grew faster than last month and is still above its usual pace. On its own, this gives no clear case to move rates.
Thu 16 Apr · 8:30 am ETGrowthLeans toward hikingHikingApril Philly Fed survey: factory activity 26.7, from 18.1
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Philly Fed factory activity | 26.7 | 18.1 | |
| Philly Fed prices paid | 59.3 | 44.7 |
Factory activity picked up and is above its usual range. Prices paid by factories rose faster and stay high. On its own, this argues for tighter policy.
Thu 16 Apr · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 207k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 207k | 218k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Thu 16 Apr · 9:15 am ETGrowthLeans toward cuttingCuttingMarch industrial production: output -0.5% in the month, from +0.7%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Industrial production, m/m | -0.5% | +0.7% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Output from factories, mines and utilities grew more slowly than last month and is below its usual pace. On its own, this argues for easier policy.
Tue 14 Apr · 8:30 am ETInflationLeans toward holdingHoldingMarch PPI: producer prices +0.5% in the month, from +0.5%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| PPI final demand, m/m | +0.5% | +0.5% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Producer prices held their pace and are above their usual range. On its own, this gives no clear case to move rates.
Fri 10 Apr · 8:30 am ETInflationLeans toward hikingHikingMarch CPI: prices up 3.3% over the year, from 2.4%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| CPI, y/y | 3.3% | 2.4% | |
| Core CPI, y/y | 2.6% | 2.5% |
Consumer prices rose faster than the month before and are above their usual range. Core prices firmed and stay inside their usual range. On its own, this argues for tighter policy.
Thu 9 Apr · 8:30 am ETInflationLeans toward holdingHoldingMarch PCE prices: core inflation 3.0% over the year, from 3.1%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Core PCE, y/y | 3.0% | 3.1% |
The Fed's preferred price gauge rose more slowly than the month before and is above its usual range. On its own, this gives no clear case to move rates.
Thu 9 Apr · 8:30 am ETGrowthLeans toward holdingHoldingQ1 GDP, revised estimate: growth at 0.5% annual rate, from 0.7%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Real GDP, annual rate (Q4) | 0.5% | 0.7% |
Growth was close to the last estimate and sits below its usual pace. On its own, this gives no clear case to move rates.
Thu 9 Apr · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims rise to 219k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 219k | 203k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims rose and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Tue 7 Apr · 8:30 am ETGrowthLeans toward cuttingCuttingFebruary durable goods: orders -1.4% in the month, from -0.5%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Durable goods orders, m/m | -1.4% | -0.5% | |
| Excluding transport, m/m | +0.8% | +0.3% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Durable goods orders were weaker than last month and are below their usual pace. Orders excluding transport were stronger than last month and are above their usual pace. On its own, this argues for easier policy.
Fri 3 Apr · 8:30 am ETJobsLeans toward holdingHoldingMarch jobs report: payrolls +178k, from -133k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Payrolls, change | +178k | -133k | |
| Unemployment rate | 4.3% | 4.4% | |
| Hourly pay, y/y | 3.5% | 3.8% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Hiring picked up and is above its usual pace. Unemployment fell and is in its usual range. Pay growth eased and is inside its usual range. On its own, this gives no clear case to move rates.
Thu 2 Apr · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 202k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 202k | 211k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Wed 1 Apr · 8:30 am ETSpendingLeans toward holdingHoldingMarch retail sales: spending +0.6% in the month, from -0.1%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Retail sales, m/m | +0.6% | -0.1% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Spending grew faster than last month and is still above its usual pace. On its own, this gives no clear case to move rates.
March 202616 releases · 2 hiking12 holding2 cutting
Tue 31 Mar · 10:00 am ETJobsLeans toward holdingHoldingFebruary job openings: 6.88m, from 7.24m
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Job openings (JOLTS) | 6.88m | 7.24m |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Job openings fell and stay inside their usual range. On its own, this gives no clear case to move rates.
Thu 26 Mar · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims rise to 210k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 210k | 205k |
Jobless claims rose and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Thu 19 Mar · 10:00 am ETHousingLeans toward cuttingCuttingJanuary new home sales: 587k a year, from 712k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| New home sales, yearly pace | 587k | 712k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
New home sales fell and are below their usual pace. On its own, this argues for easier policy.
Thu 19 Mar · 8:30 am ETGrowthLeans toward hikingHikingMarch Philly Fed survey: factory activity 18.1, from 16.3
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Philly Fed factory activity | 18.1 | 16.3 | |
| Philly Fed prices paid | 44.7 | 38.9 |
Factory activity held steady and is above its usual range. Prices paid by factories rose faster and stay high. On its own, this argues for tighter policy.
Thu 19 Mar · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 205k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 205k | 213k |
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Wed 18 Mar · 2:00 pm ETFedHeldHeldFed holds its rate at 3.50-3.75%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Fed funds target range | 3.50-3.75% | 3.50-3.75% |
The Fed left its rate at 3.50-3.75%. The vote, the statement and what it means for the path of rates are on Fed Watch.
Statement and vote on Fed Watch →Wed 18 Mar · 8:30 am ETInflationLeans toward hikingHikingFebruary PPI: producer prices +0.7% in the month, from +0.5%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| PPI final demand, m/m | +0.7% | +0.5% |
Producer prices rose faster than last month and are above their usual range. On its own, this argues for tighter policy.
Mon 16 Mar · 9:15 am ETGrowthLeans toward holdingHoldingFebruary industrial production: output +0.2% in the month, from +0.7%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Industrial production, m/m | +0.2% | +0.7% |
Output from factories, mines and utilities grew more slowly than last month and is near its usual pace. On its own, this gives no clear case to move rates.
Fri 13 Mar · 8:30 am ETGrowthLeans toward holdingHoldingJanuary durable goods: orders 0.0% in the month, from -0.9%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Durable goods orders, m/m | 0.0% | -0.9% | |
| Excluding transport, m/m | +0.4% | +1.3% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Durable goods orders were stronger than last month and are near their usual pace. Orders excluding transport were weaker than last month and are near their usual pace. On its own, this gives no clear case to move rates.
Fri 13 Mar · 8:30 am ETInflationLeans toward holdingHoldingFebruary PCE prices: core inflation 3.1% over the year, from 3.0%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Core PCE, y/y | 3.1% | 3.0% |
The Fed's preferred price gauge held its pace and is above its usual range. On its own, this gives no clear case to move rates.
Fri 13 Mar · 8:30 am ETGrowthLeans toward cuttingCuttingQ4 GDP, revised estimate: growth at 0.7% annual rate, from 1.4%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Real GDP, annual rate (Q4) | 0.7% | 1.4% |
Growth was weaker than the last estimate and sits below its usual pace. On its own, this argues for easier policy.
Fri 13 Mar · 10:00 am ETJobsLeans toward holdingHoldingJanuary job openings: 6.95m, from 6.55m
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Job openings (JOLTS) | 6.95m | 6.55m |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Job openings rose and stay inside their usual range. On its own, this gives no clear case to move rates.
Thu 12 Mar · 8:30 am ETHousingLeans toward holdingHoldingJanuary housing starts: 1,487k a year, from 1,387k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Housing starts, yearly pace | 1,487k | 1,387k | |
| Building permits, yearly pace | 1,376k | 1,455k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Housing starts rose and are near their usual pace. Building permits fell and are near their usual pace. On its own, this gives no clear case to move rates.
Wed 11 Mar · 8:30 am ETInflationLeans toward holdingHoldingFebruary CPI: prices up 2.4% over the year, from 2.4%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| CPI, y/y | 2.4% | 2.4% | |
| Core CPI, y/y | 2.5% | 2.5% |
Consumer prices held their pace and are inside their usual range. Core prices held their pace and stay inside their usual range. On its own, this gives no clear case to move rates.
Fri 6 Mar · 8:30 am ETSpendingLeans toward holdingHoldingFebruary retail sales: spending -0.2% in the month, from 0.0%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Retail sales, m/m | -0.2% | 0.0% |
Spending held its pace and is below its usual pace. On its own, this gives no clear case to move rates.
Fri 6 Mar · 8:30 am ETJobsLeans toward holdingHoldingFebruary jobs report: payrolls -92k, from +126k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Payrolls, change | -92k | +126k | |
| Unemployment rate | 4.4% | 4.3% | |
| Hourly pay, y/y | 3.8% | 3.7% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Hiring slowed and is below its usual pace. Unemployment edged up and is in its usual range. Pay growth picked up and is inside its usual range. On its own, this gives no clear case to move rates.
February 202616 releases · 1 hiking12 holding3 cutting
Fri 27 Feb · 8:30 am ETInflationLeans toward holdingHoldingJanuary PPI: producer prices +0.5% in the month, from +0.4%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| PPI final demand, m/m | +0.5% | +0.4% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Producer prices held their pace and are above their usual range. On its own, this gives no clear case to move rates.
Fri 20 Feb · 10:00 am ETHousingLeans toward holdingHoldingDecember new home sales: 745k a year, from 758k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| New home sales, yearly pace | 745k | 758k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
New home sales held steady and are near their usual pace. On its own, this gives no clear case to move rates.
Fri 20 Feb · 8:30 am ETInflationLeans toward hikingHikingJanuary PCE prices: core inflation 3.0% over the year, from 2.8%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Core PCE, y/y | 3.0% | 2.8% |
The Fed's preferred price gauge rose faster than the month before and is above its usual range. On its own, this argues for tighter policy.
Fri 20 Feb · 8:30 am ETGrowthLeans toward holdingHoldingQ4 GDP, first estimate: growth at 1.4% annual rate, from 4.4%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Real GDP, annual rate (Q4) | 1.4% | 4.4% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Growth was slower than last quarter and sits near its usual pace. On its own, this gives no clear case to move rates.
Thu 19 Feb · 8:30 am ETGrowthLeans toward holdingHoldingFebruary Philly Fed survey: factory activity 16.3, from 12.6
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Philly Fed factory activity | 16.3 | 12.6 | |
| Philly Fed prices paid | 38.9 | 46.9 |
Factory activity picked up and is above its usual range. Prices paid by factories eased and stay high. On its own, this gives no clear case to move rates.
Thu 19 Feb · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 206k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 206k | 229k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Wed 18 Feb · 8:30 am ETGrowthLeans toward cuttingCuttingDecember durable goods: orders -1.4% in the month, from +5.4%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Durable goods orders, m/m | -1.4% | +5.4% | |
| Excluding transport, m/m | +0.9% | +0.4% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Durable goods orders were weaker than last month and are below their usual pace. Orders excluding transport were stronger than last month and are above their usual pace. On its own, this argues for easier policy.
Wed 18 Feb · 8:30 am ETHousingLeans toward holdingHoldingDecember housing starts: 1,404k a year, from 1,322k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Housing starts, yearly pace | 1,404k | 1,322k | |
| Building permits, yearly pace | 1,448k | 1,388k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Housing starts rose and are near their usual pace. Building permits rose and are near their usual pace. On its own, this gives no clear case to move rates.
Wed 18 Feb · 9:15 am ETGrowthLeans toward holdingHoldingJanuary industrial production: output +0.7% in the month, from +0.2%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Industrial production, m/m | +0.7% | +0.2% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Output from factories, mines and utilities grew faster than last month and is above its usual pace. On its own, this gives no clear case to move rates.
Fri 13 Feb · 8:30 am ETInflationLeans toward cuttingCuttingJanuary CPI: prices up 2.4% over the year, from 2.7%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| CPI, y/y | 2.4% | 2.7% | |
| Core CPI, y/y | 2.5% | 2.6% |
Consumer prices rose more slowly than the month before and are inside their usual range. Core prices cooled and stay inside their usual range. On its own, this argues for easier policy.
Thu 12 Feb · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 227k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 227k | 232k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Wed 11 Feb · 8:30 am ETJobsLeans toward holdingHoldingJanuary jobs report: payrolls +130k, from +48k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Payrolls, change | +130k | +48k | |
| Unemployment rate | 4.3% | 4.4% | |
| Hourly pay, y/y | 3.7% | 3.7% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Hiring picked up and is above its usual pace. Unemployment fell and is in its usual range. Pay growth held its pace and is inside its usual range. On its own, this gives no clear case to move rates.
Tue 10 Feb · 8:30 am ETSpendingLeans toward cuttingCuttingJanuary retail sales: spending 0.0% in the month, from +0.6%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Retail sales, m/m | 0.0% | +0.6% |
Spending grew more slowly than last month and is below its usual pace. On its own, this argues for easier policy.
Tue 10 Feb · 8:30 am ETJobsLeans toward holdingHoldingQ4 employment cost index: labour costs +0.7% in the quarter, from +0.8%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Employment cost index, q/q | +0.7% | +0.8% |
Labour costs held their pace and are inside their usual range. On its own, this gives no clear case to move rates.
Thu 5 Feb · 10:00 am ETJobsLeans toward holdingHoldingDecember job openings: 6.54m, from 6.93m
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Job openings (JOLTS) | 6.54m | 6.93m |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Job openings fell and stay inside their usual range. On its own, this gives no clear case to move rates.
Thu 5 Feb · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims rise to 231k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 231k | 209k |
Jobless claims rose and are in their usual range. On its own, this gives no clear case to move rates.
January 202616 releases · 1 hiking13 holding2 cutting
Fri 30 Jan · 8:30 am ETInflationLeans toward hikingHikingDecember PPI: producer prices +0.5% in the month, from +0.2%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| PPI final demand, m/m | +0.5% | +0.2% |
Producer prices rose faster than last month and are above their usual range. On its own, this argues for tighter policy.
Wed 28 Jan · 2:00 pm ETFedHeldHeldFed holds its rate at 3.50-3.75%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Fed funds target range | 3.50-3.75% | 3.50-3.75% |
The Fed left its rate at 3.50-3.75%. The vote, the statement and what it means for the path of rates are on Fed Watch.
Statement and vote on Fed Watch →Mon 26 Jan · 8:30 am ETGrowthLeans toward holdingHoldingNovember durable goods: orders +5.3% in the month, from -2.1%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Durable goods orders, m/m | +5.3% | -2.1% | |
| Excluding transport, m/m | +0.5% | +0.1% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Durable goods orders were stronger than last month and are above their usual pace. Orders excluding transport were stronger than last month and are above their usual pace. On its own, this gives no clear case to move rates.
Thu 22 Jan · 8:30 am ETInflationLeans toward holdingHoldingDecember PCE prices: core inflation 2.8% over the year, from 2.7%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Core PCE, y/y | 2.8% | 2.7% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
The Fed's preferred price gauge rose faster than the month before and is inside its usual range. On its own, this gives no clear case to move rates.
Thu 22 Jan · 8:30 am ETGrowthLeans toward holdingHoldingQ4 GDP, revised estimate: growth at 4.4% annual rate, from 4.3%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Real GDP, annual rate (Q3) | 4.4% | 4.3% |
Growth was close to the last estimate and sits above its usual pace. On its own, this gives no clear case to move rates.
Fri 16 Jan · 9:15 am ETGrowthLeans toward holdingHoldingDecember industrial production: output +0.4% in the month, from +0.4%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Industrial production, m/m | +0.4% | +0.4% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Output from factories, mines and utilities held its pace and is above its usual pace. On its own, this gives no clear case to move rates.
Thu 15 Jan · 8:30 am ETGrowthLeans toward holdingHoldingJanuary Philly Fed survey: factory activity 12.6, from -8.8
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Philly Fed factory activity | 12.6 | -8.8 | |
| Philly Fed prices paid | 46.9 | 49.3 |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Factory activity picked up and is above its usual range. Prices paid by factories held steady and stay high. On its own, this gives no clear case to move rates.
Thu 15 Jan · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 198k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 198k | 207k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Wed 14 Jan · 8:30 am ETSpendingLeans toward holdingHoldingDecember retail sales: spending +0.6% in the month, from -0.1%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Retail sales, m/m | +0.6% | -0.1% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Spending grew faster than last month and is still above its usual pace. On its own, this gives no clear case to move rates.
Wed 14 Jan · 8:30 am ETInflationLeans toward holdingHoldingDecember PPI: producer prices +0.2% in the month, from +0.1%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| PPI final demand, m/m | +0.2% | +0.1% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Producer prices rose faster than last month and are inside their usual range. On its own, this gives no clear case to move rates.
Tue 13 Jan · 10:00 am ETHousingLeans toward holdingHoldingOctober new home sales: 737k a year, from 738k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| New home sales, yearly pace | 737k | 738k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
New home sales held steady and are near their usual pace. On its own, this gives no clear case to move rates.
Tue 13 Jan · 8:30 am ETInflationLeans toward cuttingCuttingDecember CPI: prices up 2.7% over the year, from 2.7%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| CPI, y/y | 2.7% | 2.7% | |
| Core CPI, y/y | 2.6% | 2.6% |
Consumer prices rose more slowly than the month before and are inside their usual range. Core prices held their pace and stay inside their usual range. On its own, this argues for easier policy.
Fri 9 Jan · 8:30 am ETJobsLeans toward holdingHoldingDecember jobs report: payrolls +50k, from +56k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Payrolls, change | +50k | +56k | |
| Unemployment rate | 4.4% | 4.5% | |
| Hourly pay, y/y | 3.8% | 3.6% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Hiring held its pace and is below its usual pace. Unemployment fell and is in its usual range. Pay growth picked up and is inside its usual range. On its own, this gives no clear case to move rates.
Fri 9 Jan · 8:30 am ETHousingLeans toward cuttingCuttingOctober housing starts: 1,246k a year, from 1,306k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Housing starts, yearly pace | 1,246k | 1,306k | |
| Building permits, yearly pace | 1,412k | 1,415k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Housing starts fell and are below their usual pace. Building permits held steady and are near their usual pace. On its own, this argues for easier policy.
Thu 8 Jan · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims rise to 208k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 208k | 200k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims rose and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Wed 7 Jan · 10:00 am ETJobsLeans toward holdingHoldingNovember job openings: 7.15m, from 7.45m
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Job openings (JOLTS) | 7.15m | 7.45m |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Job openings fell and stay inside their usual range. On its own, this gives no clear case to move rates.
December 202517 releases · 0 hiking11 holding6 cutting
Wed 31 Dec · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 199k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 199k | 215k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Wed 24 Dec · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 214k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 214k | 224k |
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Tue 23 Dec · 8:30 am ETGrowthLeans toward cuttingCuttingOctober durable goods: orders -2.2% in the month, from +0.7%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Durable goods orders, m/m | -2.2% | +0.7% | |
| Excluding transport, m/m | +0.2% | +0.7% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Durable goods orders were weaker than last month and are below their usual pace. Orders excluding transport were weaker than last month and are near their usual pace. On its own, this argues for easier policy.
Tue 23 Dec · 8:30 am ETGrowthLeans toward holdingHoldingQ3 GDP, first estimate: growth at 4.3% annual rate, from 3.8%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Real GDP, annual rate (Q3) | 4.3% | 3.8% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Growth was stronger than last quarter and sits above its usual pace. On its own, this gives no clear case to move rates.
Tue 23 Dec · 9:15 am ETGrowthLeans toward holdingHoldingNovember industrial production: output +0.2% in the month, from -0.1%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Industrial production, m/m | +0.2% | -0.1% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Output from factories, mines and utilities grew faster than last month and is near its usual pace. On its own, this gives no clear case to move rates.
Thu 18 Dec · 8:30 am ETGrowthLeans toward cuttingCuttingDecember Philly Fed survey: factory activity -10.2, from -1.7
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Philly Fed factory activity | -10.2 | -1.7 | |
| Philly Fed prices paid | 43.6 | 56.1 |
Factory activity slowed and is below its usual range. Prices paid by factories eased and stay high. On its own, this argues for easier policy.
Thu 18 Dec · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 224k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 224k | 237k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Thu 18 Dec · 8:30 am ETInflationLeans toward cuttingCuttingNovember CPI: prices up 2.7% over the year, from 3.0%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| CPI, y/y | 2.7% | 3.0% | |
| Core CPI, y/y | 2.6% | 3.0% |
Consumer prices rose more slowly than the month before and are inside their usual range. Core prices cooled and stay inside their usual range. On its own, this argues for easier policy.
Tue 16 Dec · 8:30 am ETSpendingLeans toward holdingHoldingNovember retail sales: spending 0.0% in the month, from +0.1%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Retail sales, m/m | 0.0% | +0.1% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Spending held its pace and is near its usual pace. On its own, this gives no clear case to move rates.
Tue 16 Dec · 8:30 am ETJobsLeans toward cuttingCuttingNovember jobs report: payrolls +64k, from -105k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Payrolls, change | +64k | -105k | |
| Unemployment rate | 4.6% | 4.4% | |
| Hourly pay, y/y | 3.5% | 3.7% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Hiring picked up and is near its usual pace. Unemployment edged up and is high. Pay growth eased and is inside its usual range. On its own, this argues for easier policy.
Thu 11 Dec · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims rise to 236k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 236k | 192k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims rose and are in their usual range. On its own, this gives no clear case to move rates.
Wed 10 Dec · 2:00 pm ETFedCutCutFed cuts its rate by 25bp to 3.50-3.75%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Fed funds target range | 3.50-3.75% | 3.75-4.00% |
The Fed cut its rate by 25bp, to 3.50-3.75%. The vote, the statement and what it means for the path of rates are on Fed Watch.
Statement and vote on Fed Watch →Wed 10 Dec · 8:30 am ETJobsLeans toward cuttingCuttingQ3 employment cost index: labour costs +0.8% in the quarter, from +0.9%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Employment cost index, q/q | +0.8% | +0.9% |
Labour costs rose more slowly than last quarter and are inside their usual range. On its own, this argues for easier policy.
Tue 9 Dec · 10:00 am ETJobsLeans toward holdingHoldingOctober job openings: 7.67m, from 7.66m
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Job openings (JOLTS) | 7.67m | 7.66m |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Job openings held steady and are above their usual range. On its own, this gives no clear case to move rates.
Fri 5 Dec · 8:30 am ETInflationLeans toward holdingHoldingNovember PCE prices: core inflation 2.8% over the year, from 2.9%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Core PCE, y/y | 2.8% | 2.9% |
The Fed's preferred price gauge rose more slowly than the month before and is above its usual range. On its own, this gives no clear case to move rates.
Thu 4 Dec · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 191k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 191k | 218k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Wed 3 Dec · 9:15 am ETGrowthLeans toward holdingHoldingSeptember industrial production: output +0.1% in the month, from -0.3%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Industrial production, m/m | +0.1% | -0.3% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Output from factories, mines and utilities grew faster than last month and is near its usual pace. On its own, this gives no clear case to move rates.
November 20257 releases · 2 hiking5 holding0 cutting
Wed 26 Nov · 8:30 am ETGrowthLeans toward holdingHoldingSeptember durable goods: orders +0.5% in the month, from +3.0%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Durable goods orders, m/m | +0.5% | +3.0% | |
| Excluding transport, m/m | +0.6% | +0.5% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Durable goods orders were weaker than last month and are near their usual pace. Orders excluding transport held their pace and are above their usual pace. On its own, this gives no clear case to move rates.
Wed 26 Nov · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 216k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 216k | 222k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
Tue 25 Nov · 8:30 am ETSpendingLeans toward holdingHoldingOctober retail sales: spending +0.2% in the month, from +0.6%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Retail sales, m/m | +0.2% | +0.6% |
Spending grew more slowly than last month and is near its usual pace. On its own, this gives no clear case to move rates.
Tue 25 Nov · 8:30 am ETInflationLeans toward hikingHikingOctober PPI: producer prices +0.3% in the month, from -0.1%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| PPI final demand, m/m | +0.3% | -0.1% |
Producer prices rose faster than last month and are above their usual range. On its own, this argues for tighter policy.
Thu 20 Nov · 8:30 am ETJobsLeans toward holdingHoldingOctober jobs report: payrolls +119k, from -4k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Payrolls, change | +119k | -4k | |
| Unemployment rate | 4.4% | 4.3% | |
| Hourly pay, y/y | 3.8% | 3.8% |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Hiring picked up and is above its usual pace. Unemployment edged up and is in its usual range. Pay growth held its pace and is inside its usual range. On its own, this gives no clear case to move rates.
Thu 20 Nov · 8:30 am ETGrowthLeans toward hikingHikingNovember Philly Fed survey: factory activity -1.7, from -12.8
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Philly Fed factory activity | -1.7 | -12.8 | |
| Philly Fed prices paid | 56.1 | 49.2 |
Factory activity picked up and is inside its usual range. Prices paid by factories rose faster and stay high. On its own, this argues for tighter policy.
Thu 20 Nov · 8:30 am ETJobsLeans toward holdingHoldingWeekly jobless claims fall to 220k
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Initial jobless claims | 220k | 228k |
Prior is the figure as revised in this release; the trend shows each figure as first published.
Jobless claims fell and stay low, so layoffs are rare. On its own, this gives no clear case to move rates.
October 20251 releases · 0 hiking0 holding1 cutting
Wed 29 Oct · 2:00 pm ETFedCutCutFed cuts its rate by 25bp to 3.75-4.00%
| Figure | Actual | Prior | Change |
|---|---|---|---|
| Fed funds target range | 3.75-4.00% | 4.00-4.25% |
The Fed cut its rate by 25bp, to 3.75-4.00%. The vote, the statement and what it means for the path of rates are on Fed Watch.
Statement and vote on Fed Watch →Cards in earlier months were added on Tue 10 Nov or later from the ALFRED archive of first prints. Each one shows the date its figure was first published.
The next four weeks
Dates from the official release calendars.
Get the week's data in one email, Sundays
Every US release from the week in plain words, what each one means for rates, and the week ahead with times in New York and UTC. One email a week. Unsubscribe in one click.
The Economic Calendar is education, not advice. Figures come from the agencies that publish them, read through FRED and ALFRED as they stood on release day. Prior is the month (or quarter) before, as shown in the same release. We do not show forecasts or "expected" figures. Not listed: the ISM business surveys, Conference Board confidence and University of Michigan sentiment, whose figures are not free to republish.
The lean on each card comes from fixed rules: a hotter price figure above its usual range leans toward hiking; a weaker jobs, growth or housing figure below its usual pace leans toward cutting; everything else leans toward holding. The same rules write the Fed Watch data cards. Last updated 10 Nov 2026, 01:16 UTC.