Saturday, August 18, 2018

Schedule for Week of August 19, 2018

by Bill McBride on 8/18/2018 08:11:00 AM

The key economic reports this week are July New and Existing Home Sales.

Fed Chair Jerome Powell will speak on Friday at the Federal Reserve Bank of Kansas City Economic Policy Symposium, at Jackson Hole, Wyo.

----- Monday, Aug 20th -----

No major economic releases scheduled.

----- Tuesday, Aug 21st -----

No major economic releases scheduled.

----- Wednesday, Aug 22nd -----

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

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

Existing Home Sales10:00 AM: Existing Home Sales for July from the National Association of Realtors (NAR). The consensus is for 5.43 million SAAR, up from 5.38 million in June.

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

Housing economist Tom Lawler estimates the NAR will reports sales of 5.40 million SAAR for July and that inventory will be down 1.0% year-over-year.

10:00 AM: The BLS will release the 2018 CES Preliminary Benchmark Revision.

2:00 PM: The Fed will release the FOMC Minutes for the Meeting of July 31-August 1, 2018

----- Thursday, Aug 23rd -----

8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 215 thousand initial claims, up from 212 thousand the previous week.

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

The consensus is for 648 thousand SAAR, up from 631 thousand in June.

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

----- Friday, Aug 24th -----

8:30 AM: Durable Goods Orders for July from the Census Bureau. The consensus is for a 0.2% decrease in durable goods orders.

10:00 AM: Speech by Fed Chair Jerome Powell, "Monetary Policy in a Changing Economy", At the Federal Reserve Bank of Kansas City Economic Policy Symposium, Jackson Hole, Wyo.