by Calculated Risk on 7/24/2021 08:11:00 AM
The key report this week is the advance estimate of Q2 GDP.
Other key reports include June New Home Sales, Personal Income and Outlays for June, and Case-Shiller house prices for May.
For manufacturing, the July Richmond and Dallas Fed manufacturing surveys will be released.
The FOMC meets this week, and no change to policy is expected.
This graph shows New Home Sales since 1963. The dashed line is the sales rate for last month.
The consensus is for 800 thousand SAAR, up from 769 thousand in May.
10:30 AM: Dallas Fed Survey of Manufacturing Activity for July.
8:30 AM: Durable Goods Orders for June from the Census Bureau. The consensus is for a 2.1% increase in durable goods orders.
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).
The consensus is for a 16.3% year-over-year increase in the Comp 20 index for May.
9:00 AM: FHFA House Price Index for May. This was originally a GSE only repeat sales, however there is also an expanded index.
10:00 AM: Richmond Fed Survey of Manufacturing Activity for July. This is the last of the regional surveys for July.
10:00 AM: The Q2 Housing Vacancies and Homeownership report from the Census Bureau.
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
2:00 PM: FOMC Meeting Announcement. No change to policy is expected at this meeting.
2:30 PM: Fed Chair Jerome Powell holds a press briefing following the FOMC announcement.
8:30 AM: Gross Domestic Product, 2nd quarter (advance estimate), and annual update. The consensus is that real GDP increased 8.6% annualized in Q2, up from 6.4% in Q1.
8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for a decrease to 400 thousand from 419 thousand last week.
10:00 AM: Pending Home Sales Index for June. The consensus is for a 0.5% increase in the index.
8:30 AM ET: Personal Income and Outlays, June 2020. The consensus is for a 0.3% decrease in personal income, and for a 0.7% increase in personal spending. And for the Core PCE price index to increase 0.6%.
9:45 AM: Chicago Purchasing Managers Index for July.
10:00 AM: University of Michigan’s Consumer sentiment index (Final for July). The consensus is for a reading of 80.8.