Weekly Schedule

I'm back from vacation and starting to catch up!

The key reports this week are July New Home sales on Tuesday, the second estimate of Q2 GDP on Thursday, and Case-Shiller house prices on Tuesday.

----- Monday, August 24th -----

8:30 AM ET: Chicago Fed National Activity Index for July. This is a composite index of other data.

----- Tuesday, August 25th -----

Case-Shiller House Prices Indices9:00 AM: S&P/Case-Shiller House Price Index for June. Although this is the June report, it is really a 3 month average of April, May and June prices.

This graph shows the nominal seasonally adjusted National Index, Composite 10 and Composite 20 indexes through the May 2015 report (the Composite 20 was started in January 2000).

The consensus is for a 5.2% year-over-year increase in the Comp 20 index for June. The Zillow forecast is for the National Index to increase 4.3% year-over-year in June.

9:00 AM: FHFA House Price Index for June 2015. This was originally a GSE only repeat sales, however there is also an expanded index.  The consensus is for a 0.4% month-to-month increase for this index.

New Home Sales10:00 AM: 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 increase in sales to 516 thousand Seasonally Adjusted Annual Rate (SAAR) in July from 482 thousand in June.

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

----- Wednesday, August 26th -----

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

8:30 AM: Durable Goods Orders for July from the Census Bureau. The consensus is for a 0.4% decrease in durable goods orders.

----- Thursday, August 27th -----

All day: the Kansas City Fed Hosts Symposium in Jackson Hole, Wyoming (Thursday, Friday, and Saturday).

8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 270 thousand initial claims, down from 277 thousand the previous week.

8:30 AM: Gross Domestic Product, 2nd quarter 2015 (second estimate). The consensus is that real GDP increased 3.2% annualized in Q2, revised up from 2.3%  in the advance estimate.

10:00 AM: Pending Home Sales Index for July. The consensus is for a 1.0% increase in the index.

11:00 AM: the Kansas City Fed manufacturing survey for August.

----- Friday, August 28th -----

8:30 AM ET: Personal Income and Outlays for July. The consensus is for a 0.4% increase in personal income, and for a 0.4% increase in personal spending. And for the Core PCE price index to increase 0.1%.

10:00 AM: University of Michigan's Consumer sentiment index (final for August). The consensus is for a reading of 93.3, up from the preliminary reading of 92.9.