Saturday, July 21, 2018

Schedule for Week of July 22, 2018

by Bill McBride on 7/21/2018 08:11:00 AM

The key economic reports this week are the advance estimate of Q2 GDP, and June New and Existing Home Sales.

For manufacturing, the Richmond and Kansas City Fed manufacturing surveys will be released this week.

----- Monday, July 23rd -----

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

Existing Home Sales10:00 AM: Existing Home Sales for June from the National Association of Realtors (NAR). The consensus is for 5.45 million SAAR, up from 5.43 million in May.

The graph shows existing home sales from 1994 through the report last month.

Housing economist Tom Lawler estimates the NAR will reports sales of 5.35 million SAAR for June and that inventory will be down 4.1% year-over-year.

----- Tuesday, July 24th -----

9:00 AM: FHFA House Price Index for May 2018. This was originally a GSE only repeat sales, however there is also an expanded index.

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

----- Wednesday, July 25th -----

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

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

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

The consensus is for 669 thousand SAAR, down from 689 thousand in May.

----- Thursday, July 26th -----

8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 217 thousand initial claims, up from 207 thousand the previous week.

8:30 AM: Durable Goods Orders for June from the Census Bureau. The consensus is for a 3.2% increase in durable goods orders.

10:00 AM: the Q2 2018 Housing Vacancies and Homeownership from the Census Bureau.

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

----- Friday, July 27th -----

8:30 AM: Gross Domestic Product, 2nd quarter 2018 (Advance estimate). The consensus is that real GDP increased 4.2% annualized in Q2, up from 2.0% in Q1.

10:00 AM: University of Michigan's Consumer sentiment index (Final for July). The consensus is for a reading of 97.2, up from 97.1.