Wednesday, September 28, 2016

Thursday: GDP, Unemployment Claims, Pending Home Sales

by Bill McBride on 9/28/2016 08:06:00 PM

The GDP release will be for Q2. Here are two looks at Q3 ...

Atlanta Fed GDP Now:

The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2016 is 2.8 percent on September 28, down from 2.9 percent on September 20.
New York Fed Nowcasting:
The FRBNY Staff Nowcast stands at 2.3% and 1.2% for 2016:Q3 and 2016:Q4, respectively.
Thursday:
• At 8:30 AM ET, The initial weekly unemployment claims report will be released.  The consensus is for 260 thousand initial claims, up from 252 thousand the previous week.

• Also at 8:30 AM, Gross Domestic Product, 2nd quarter 2016 (Third estimate). The consensus is that real GDP increased 1.3% annualized in Q2, up from 1.1% in the second estimate.

• At 10:00 AM, Pending Home Sales Index for August. The consensus is for a 0.5% increase in the index.

• At 5:10 PM, Speech by Fed Chair Janet Yellen, Conversation with conference participants, At the Banking and the Economy: A Forum for Minority Bankers, Federal Reserve Bank of Kansas City, Kansas City, Missouri