by Bill McBride on 9/15/2012 01:10:00 PM
Saturday, September 15, 2012
• Summary for Week Ending Sept 14th
There are three key housing reports to be released this week: September homebuilder confidence on Tuesday, and August housing starts and August Existing Home sales, both on Wednesday.
For manufacturing, the September NY Fed (Empire state) and Philly Fed surveys will be released this week.
Also, for data nerds, the Fed's Q2 Flow of Funds report, and the Census Bureau's 2011 American Community Survey will be released.
8:30 AM: Housing Starts for August.
Total housing starts were at 746,000 (SAAR) in July, down 1.1% from the revised June rate of 754,000 (SAAR).
The consensus is for total housing starts to increase to 768,000 (SAAR) in August, up from 746,000 in July.
10:00 AM: Existing Home Sales for August from the National Association of Realtors (NAR).
The consensus is for sales of 4.55 million on seasonally adjusted annual rate (SAAR) basis. Sales in July 2012 were 4.47 million SAAR.
A key will be inventory and months-of-supply.
During the day: The AIA's Architecture Billings Index for August (a leading indicator for commercial real estate).
9:00 AM: The Markit US PMI Manufacturing Index Flash. This is a new release and might provide hints about the ISM PMI for September. The consensus is for a reading of 51.5, down from 51.9 in August.
10:00 AM: Philly Fed Survey for September. The consensus is for a reading of minus 4.0, up from minus 7.1 last month (above zero indicates expansion).
10:00 AM: Conference Board Leading Indicators for September. The consensus is no change in this index.
12:00 PM: Q2 Flow of Funds Accounts from the Federal Reserve.
Note: On Thursday, the Census Bureau will release the 2011 American Community Survey estimates.