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Wednesday, July 27, 2022

Thursday: Q2 GDP, Unemployment Claims

by Calculated Risk on 7/27/2022 09:01:00 PM

• At 8:30 AM ET, the initial weekly unemployment claims report will be released.  The consensus is for 248 thousand down from 251 thousand last week.

• Also, at 8:30 AM, Gross Domestic Product, 2nd quarter (advance estimate), and annual update. The consensus is that real GDP increased 0.4% annualized in Q2, up from -1.6% in Q1.

• At 11:00 AM, Kansas City Fed Survey of Manufacturing Activity for July. This is the last of the regional surveys for July.

On COVID (focus on hospitalizations and deaths):

Hospitalizations have almost quadrupled from the lows in April 2022.

COVID Metrics
New Cases per Day2🚩127,786126,610≤5,0001
Deaths per Day2366391≤501
1my goals to stop daily posts,
27-day average for Cases, Currently Hospitalized, and Deaths
🚩 Increasing 7-day average week-over-week for Cases, Hospitalized, and Deaths
✅ Goal met.

COVID-19 Positive Tests per DayClick on graph for larger image.

This graph shows the daily (columns) and 7-day average (line) of deaths reported.

Average daily deaths bottomed in July 2021 at 214 per day.