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Saturday, May 25, 2024

Schedule for Week of May 26, 2024

by Calculated Risk on 5/25/2024 08:11:00 AM

The key reports this week are the second estimate of Q1 GDP, March Case-Shiller house prices, and Personal Income and Outlays for April.

For manufacturing, the May Richmond and Dallas Fed manufacturing surveys will be released.

----- Monday, May 27th -----

All US markets will be closed in observance of Memorial Day.

----- Tuesday, May 28th -----

Case-Shiller House Prices Indices9:00 AM: S&P/Case-Shiller House Price Index for March.  The consensus is for the Case-Shiller National Index to increase 6.8% YoY, up from 6.4% YoY in February.

This graph shows the year-over-year change in the seasonally adjusted National Index, Composite 10 and Composite 20 indexes through the most recent report (the Composite 20 was started in January 2000).

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

10:00 AM: Dallas Fed Survey of Manufacturing Activity for May.

----- Wednesday, May 29th -----

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

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

2:00 PM: the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts.

----- Thursday, May 30th -----

8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 218 thousand initial claims, up from 215 thousand last week.

8:30 AM: Gross Domestic Product, 1st quarter 2023 (Second estimate). The consensus is that real GDP increased 1.2% annualized in Q1, down from the advance estimate of 1.6%.

10:00 AM: Pending Home Sales Index for April. The consensus is for a 0.6% decrease in the index.

----- Friday, May 31st -----

8:30 AM ET: Personal Income and Outlays, April 2024. The consensus is for a 0.3% increase in personal income, and for a 0.3% increase in personal spending. And for the Core PCE price index to increase 0.3%.  PCE prices are expected to be up 2.7% YoY, and core PCE prices up 2.8% YoY.

9:45 AM: Chicago Purchasing Managers Index for May.