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Saturday, August 17, 2013

Schedule for Week of August 18th

by Calculated Risk on 8/17/2013 08:51:00 AM

The key reports this week are July existing home sales on Wednesday, and July new home sales on Friday.

The Kansas City Fed will host the annual Jackson Hole symposium from Thursday through Saturday. Fed Chairman Ben Bernanke will not be attending, although the likely next Fed Chair Janet Yellen will be attending but not speaking.

----- Monday, August 19th -----

10:00 AM: Regional and State Employment and Unemployment (Monthly) for July 2013

----- Tuesday, August 20th -----

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

----- Wednesday, August 21st -----

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

Existing Home Sales10:00 AM: Existing Home Sales for July from the National Association of Realtors (NAR).

The consensus is for sales of 5.13 million on seasonally adjusted annual rate (SAAR) basis. Sales in June were at a 5.08 million SAAR.   Economist Tom Lawler is estimating the NAR will report a July sales rate of 5.33 million.

A key will be inventory and months-of-supply.

During the day: The AIA's Architecture Billings Index for July (a leading indicator for commercial real estate).

2:00 PM: FOMC Minutes for Meeting of July 30-31, 2013.

----- Thursday, August 22nd -----

8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for claims to increase to 329 thousand from 320 thousand last week.

9:00 AM: The Markit US PMI Manufacturing Index Flash for August. The consensus is for an increase to 53.5 from 53.2 in July.

9:00 AM: FHFA House Price Index for June 2013. This was original a GSE only repeat sales, however there is also an expanded index that deserves more attention. The consensus is for a 0.6% increase

11:00 AM: Kansas City Fed Survey of Manufacturing Activity for July. The consensus is for a reading of 5 for this survey, down from 6 in July (Above zero is expansion).

----- Friday, August 23rd -----

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 a decrease in sales to 487 thousand Seasonally Adjusted Annual Rate (SAAR) in July from 497 thousand in June. Based on the homebuilder reports, there will probably be some downward revisions to sales for previous months.