by Bill McBride on 8/20/2016 08:15:00 AM
Saturday, August 20, 2016
The key economic reports this week are July New and Existing Home Sales.
Also the second estimate of Q2 GDP will be released.
Fed Chair Janet Yellen is scheduled to speak at the Jackson Hole annual economic symposium.
For manufacturing, the August Richmond and Kansas City manufacturing surveys will be released this week.
8:30 AM ET: Chicago Fed National Activity Index for July. This is a composite index of other data.
10:00 AM ET: New Home Sales for July from the Census Bureau.
This graph shows New Home Sales since 1963. The dashed line is the June sales rate.
The consensus is for an decrease in sales to 580 thousand Seasonally Adjusted Annual Rate (SAAR) in July from 592 thousand in June.
10:00 AM: Richmond Fed Survey of Manufacturing Activity for August.
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 June 2016. This was originally a GSE only repeat sales, however there is also an expanded index. The consensus is for a 0.3% month-to-month increase for this index.
10:00 AM: Existing Home Sales for July from the National Association of Realtors (NAR). The consensus is for 5.52 million SAAR, down from 5.57 million in June.
Housing economist Tom Lawler expects the NAR to report sales of 5.41 million SAAR in July, down 2.9% from June’s preliminary pace.
8:30 AM ET: The initial weekly unemployment claims report will be released. The consensus is for 265 thousand initial claims, up from 262 thousand the previous week.
8:30 AM: Durable Goods Orders for June from the Census Bureau. The consensus is for a 3.7% increase in durable goods orders.
11:00 AM: Kansas City Fed Survey of Manufacturing Activity for August.
8:30 AM ET: Gross Domestic Product, 2nd quarter 2016 (Second estimate). The consensus is that real GDP increased 1.1% annualized in Q2, down from 1.2% in the advance estimate.
10:00 AM: University of Michigan's Consumer sentiment index (final for August). The consensus is for a reading of 90.5, up from the preliminary reading 90.4.
11:00 AM: Fed Chair Janet Yellen will speak at the annual economic symposium in Jackson Hole, Wyoming. The symposium topic is “Designing Resilient Monetary Policy Frameworks for the Future”.