Events you need to know about this week:
Santee Cooper’s board meets. Among other items, it’s expected to vote on how much the state-owned utility will pay customers for power they generate from solar panels. The board previously said it would pay 7 cents a kilowatt for the first 500 participants and offer up to $250,000 in rebates for solar panel buyers. The Coastal Conservation League has argued the payments are too low and the rebate offer is too complicated.
The Federal Reserve releases consumer credit data for October.
U.S. Labor Department releases job openings and labor turnover survey for October.
Germany releases October industrial production figures for Europe’s largest economy and one of South Carolina’s top trading partners.
Charleston’s Board of Architectural Review considers Hughes Lumber’s request to demolish its retail space, storage sheds and warehouses at 82 Mary St. The move is possibly tied to the redevelopment of the adjacent Morris Sokol Furniture store, which closed earlier this fall. Documents filed in July showed plans to build a large parking deck on the Hughes site to lure an unidentified retailer to the Sokol building at 510 King. The lumber retailer said it might move its longtime Charleston location to property it owns on Morrison Drive.
U.S. Commerce Department releases wholesale trade inventories for October.
Germany releases October export and import figures.
Spartanburg-based restaurant operator Dennys Corp. and finance chief Mark Wolfinger present at the Wedbush California Dreamin’ Consumer Conference at 1:35 p.m. A copy and live audio webcast of the presentation will be available under “Investor Relations” at investor.dennys.com with a replay following the live event.
The Charleston Trident Association of Realtors releases preliminary November home sales figures. In October, flooding dampened activity, but transactions edged up 1.8 percent from a year earlier to 1,248 transactions. The median price was $225,000, up $10,000. For the first 10 months of 2015, volume was up 14.7 percent to 13,701 sales. At the current pace, sales are on track to overtake last year’s volume of 14,250 transactions.
Mortgage company Freddie Mac releases weekly mortgage rates. Last week, the average on a 30-year, fixed-rate home loan slipped to 3.93 percent from 3.95 percent, while the average on a 15-year, fixed-rate eased to 3.16 percent from 3.18 percent. The Federal Reserve is widely expected to raise its key short-term interest rate at its meeting Dec. 15-16. It would be the Fed’s first hike in nearly a decade. The expectation was bolstered last week, when Fed Chair Janet Yellen indicated the U.S. economy is on track for an increase.
U.S. Labor Department releases weekly jobless claims.
U.S. Treasury releases federal budget for November.
U.S. Commerce Department releases retail sales data for November and business inventories for October.
U.S. Labor Department releases the Producer Price Index for November.
Staff and wire reports