The economic calendar, explained

Our economic calendar lists the week's scheduled data releases and central bank events for the US, the euro area, the UK, Japan and China. Most rows will never touch your budget. A few, mainly inflation, jobs and interest-rate decisions, shape what your savings account pays and what your credit card charges.

How to read a row:

• Time. Shown in your device's time zone, so there is nothing to convert.
• Currency. USD, EUR, GBP, JPY or CNY tells you which economy the event is about.
• Impact. High, Medium or Low is our data provider's rating of how much the event tends to move that currency. The default view shows High and Medium; choose All to see minor items.
• Forecast and previous. The forecast is the expected figure, which news coverage often calls "consensus". The previous figure is the last reading, which is sometimes revised when the new number comes out.

The number that matters is the actual, released by the publishing agency at the listed time. Markets react to the surprise: the gap between actual and forecast. A strong reading everyone expected can barely move prices, while a small miss can move interest rates. That is also why one release rarely means much on its own; the trend over several months is what changes policy.

Consumer Price Index (CPI)

What it measures. How prices change over time for a basket of goods and services bought by urban consumers (the CPI-U series). "Core" CPI is the index for all items less food and energy, which removes the most volatile prices. The monthly change is seasonally adjusted; the 12-month change quoted in headlines is not.

Who publishes it and when. The Bureau of Labor Statistics (BLS), monthly. Its 2026 schedule puts releases between the 10th and the 14th of the month, at 8:30 a.m. Eastern.

Why markets watch it. It is the most closely followed US inflation number and arrives before the Fed's preferred gauge, so a surprise quickly shifts rate expectations.

What it means for your money. If your savings earn less than CPI inflation, your cash is losing buying power; see inflation and rates. A hot reading makes rate cuts less likely, which keeps borrowing costly.

PCE price index

What it measures. The personal consumption expenditures (PCE) price index tracks prices paid by, or on behalf of, people in the US, across a wider range of spending than the CPI. Core PCE leaves out food and energy because those prices swing more often and more sharply.

Who publishes it and when. The Bureau of Economic Analysis (BEA), monthly in its Personal Income and Outlays report, with quarterly figures in the GDP release. BEA's schedule lists an 8:30 a.m. release time.

Why markets watch it. The Federal Reserve defines its 2 percent inflation goal using the annual change in the PCE price index.

What it means for your money. Whether PCE is moving toward or away from 2 percent is a good clue to the Fed's next move, and so to savings yields and variable-rate debt costs.

Employment Situation: nonfarm payrolls and the unemployment rate

What it measures. The jobs report combines two surveys. The household survey of about 60,000 households produces the unemployment rate: you count as unemployed if you had no job, were available to work and actively looked in the past four weeks. The establishment survey of about 119,000 businesses and government agencies produces nonfarm payrolls, hours and average hourly earnings.

Who publishes it and when. BLS, monthly. In 2026 it mostly lands on a Friday early in the month, at 8:30 a.m. Eastern. Each report revises payrolls for the two prior months, and the series is benchmarked once a year.

Why markets watch it. Maximum employment is half of the Fed's mandate, and wage growth feeds into inflation.

What it means for your money. A steadily rising unemployment rate is a cue to top up your emergency fund. Watch the trend and revisions, not one month's headline.

Weekly jobless claims

What it measures. Initial claims count people filing for unemployment insurance after losing a job, an early sign of layoffs. Continued claims count people still receiving benefits. The data is seasonally adjusted, with a four-week moving average to smooth the noise. Our calendar labels it "Unemployment Claims".

Who publishes it and when. The Department of Labor, weekly, embargoed until 8:30 a.m. Eastern on Thursday.

Why markets watch it. It is the most frequent read on the job market and can show layoffs building before the monthly report does.

What it means for your money. One week means little. Several weeks of rising claims point to a softer job market and possibly lower rates.

FOMC rate decision, statement, press conference and minutes

What it is. The Federal Open Market Committee (FOMC) sets the target range for the federal funds rate, the overnight rate at which banks lend reserves to each other. Each meeting ends with a policy statement and a press conference by the Fed Chair. Four meetings (in 2026: March, June, September and December) add a Summary of Economic Projections with officials' rate forecasts. Minutes follow three weeks after each decision ("FOMC Meeting Minutes" on our calendar).

Who publishes it and when. The Federal Reserve, which holds eight scheduled meetings a year and posts the dates in advance.

Why markets watch it. The decision is often expected. The surprise tends to be in the statement's wording, the projections and the Chair's answers.

What it means for your money. The fed funds rate feeds through to high-yield savings and money market yields and to variable-rate debt such as credit cards. A cut tends to lower both what you earn on cash and what you pay on a balance; see credit card interest.

Fed speakers

What it is. Entries such as "FOMC Member Waller Speaks" are speeches, interviews or testimony by Fed officials. Other central banks get similar entries, such as the Bank of England governor.

When. Most weeks, except during the blackout period: Fed policymakers do not comment publicly on the economy or policy from the second Saturday before a scheduled meeting until 11:59 p.m. Eastern on the day after it.

Why markets watch it. Officials use speeches to prepare markets for a change. The Chair's remarks carry the most weight.

What it means for your money. Nothing on its own. Treat speeches as clues to the next decision, not a reason to act.

Gross domestic product (GDP)

What it measures. The value of final goods and services produced in the US, counting each item once. The headline growth figure is real (inflation-adjusted) and expressed as an annual rate.

Who publishes it and when. BEA, quarterly, as an advance, second and third estimate, each revising the last. BEA's schedule lists an 8:30 a.m. release time.

Why markets watch it. It is the broadest measure of whether the economy is growing. The advance estimate, as the first look, usually gets the biggest reaction.

What it means for your money. One weak quarter is not a recession. Soft growth alongside rising unemployment is a reason to strengthen your cash buffer, not to sell investments.

Retail sales

What it measures. An early estimate of sales at retailers and food service businesses, from a sample of about 4,800 firms. Figures are seasonally adjusted (including for holidays and the number of trading days) but not adjusted for inflation, so part of any rise can simply be higher prices.

Who publishes it and when. The Census Bureau, monthly, about nine working days after the month ends, at 8:30 a.m. Eastern. Each report also revises the prior month.

Why markets watch it. Consumer spending drives much of the US economy, and this is the earliest hard data on it.

What it means for your money. Strong spending can keep inflation and rates higher for longer. Compare it with CPI to see whether people are buying more or just paying more.

ISM manufacturing and services PMI

What it measures. The Institute for Supply Management (ISM) surveys supply managers on its Business Survey Committee, a panel chosen to reflect each industry's contribution to GDP. A purchasing managers' index (PMI) above 50 generally signals growing activity; below 50, shrinking.

Who publishes it and when. ISM releases the Manufacturing PMI on the first business day of the month and the Services PMI on the third, both at 10:00 a.m. Eastern. Our calendar also lists other PMI surveys, such as "Final Services PMI" for the euro area and UK.

Why markets watch it. PMIs arrive days after the month ends, well before official data.

What it means for your money. Treat them as early weather reports. A run below 50 hints at a slowdown; it is not a reason to change a long-term plan.

University of Michigan consumer sentiment and inflation expectations

What it measures. The Surveys of Consumers produce the Index of Consumer Sentiment and households' expected inflation over the next year and the long run ("Prelim UoM Consumer Sentiment" and "Prelim UoM Inflation Expectations" on our calendar).

Who publishes it and when. The University of Michigan, monthly, as a preliminary then a final reading, at 10:00 a.m. Eastern.

Why markets watch it. The Fed notes that when households and businesses expect low, stable inflation, they make better saving, borrowing and investing decisions. Rising expectations can make policymakers wary of cutting.

What it means for your money. Sentiment measures mood, not spending. Treat a gloomy reading as context, not a forecast of your own finances.

ECB, Bank of England and Bank of Japan rate decisions

European Central Bank (ECB). The Governing Council sets three key rates and steers its policy stance through the deposit facility rate (confirmed in its March 2024 review of the operational framework), targeting 2 percent inflation. A press conference follows each monetary policy meeting, and "ECB Monetary Policy Meeting Accounts" (its minutes) also appear on our calendar.

Bank of England (BoE). The Monetary Policy Committee sets Bank Rate eight times a year, aiming for 2 percent inflation. Each decision comes with a summary and minutes; four a year (in 2026: February, April, July and November) add a Monetary Policy Report.

Bank of Japan (BoJ). The Policy Board holds eight Monetary Policy Meetings in 2026, four with an Outlook Report (January, April, July and October). A Summary of Opinions follows one to two weeks later.

What it means for your money. For a US household these work mainly through exchange rates, which matter if you own international funds, earn or spend another currency, or travel. If you live in the euro area, UK or Japan, your central bank's rate feeds into your savings and mortgage rates much as the Fed's does in the US.

China data: CPI and PMI

China's National Bureau of Statistics (NBS) publishes monthly CPI and producer prices around the 9th to 11th of most months, and the official PMIs, compiled with the China Federation of Logistics and Purchasing, around the last day of the month; its 2026 calendar lists both at 9:30. As with ISM, a PMI above 50 signals expansion. Markets read these as a gauge of global demand and commodity prices. For your money the effect is indirect, mainly through global stocks and the prices of imported goods.

How to use the calendar for personal finance

• Don't trade the release. Prices can jump both ways within seconds of a number. A long-term investor gains nothing by reacting.
• Watch rate decisions for your cash and debt. After an FOMC change, check what your savings account or money market fund pays, and whether a CD is worth locking in; our cash savings guide compares the options. A card balance stays urgent whatever the Fed does.
• Track inflation against your savings. Compare CPI and PCE with the yield on your cash to see your real return, as explained in inflation and rates.
• Read the weekly brief. Our weekly brief explains the week's main releases and what they mean for an ordinary budget.