Saturday, May 21, 2016

Schedule for Week of May 22, 2016

by Bill McBride on 5/21/2016 08:12:00 AM

The key economic reports this week are April New Home sales, and the second estimate of Q1 GDP.

----- Monday, May 23rd -----

No economic releases scheduled.

----- Tuesday, May 24th -----

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

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

The consensus is for a increase in sales to 523 thousand Seasonally Adjusted Annual Rate (SAAR) in April from 511 thousand in March.

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

11:00 AM: The New York Fed will release their Q1 2016 Household Debt and Credit Report

----- Wednesday, May 25th -----

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

9:00 AM: FHFA House Price Index for March 2016. This was originally a GSE only repeat sales, however there is also an expanded index.  The consensus is for a 0.5% month-to-month increase for this index.

----- Thursday, May 26th -----

8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 275 thousand initial claims, down from 278 thousand the previous week.

8:30 AM: Durable Goods Orders for April from the Census Bureau. The consensus is for a 0.3% increase in durable goods orders.

10:00 AM: Pending Home Sales Index for April. The consensus is for a 0.8% increase in the index.

11:00 AM: Kansas City Fed Survey of Manufacturing Activity for May.

----- Friday, May 27th -----

8:30 AM ET: Gross Domestic Product, 1st quarter 2016 (Second estimate). The consensus is that real GDP increased 0.9% annualized in Q1, revised up from a 0.5% increase.

10:00 AM: University of Michigan's Consumer sentiment index (final for May). The consensus is for a reading of 95.5, down from the preliminary reading 95.8, and up from 89.0 in April.

10:30 AM: Fed Chair Janet Yellen will have a discussion with Professor Greg Mankiw at Radcliffe Institute for Advanced Study at Harvard University.