By Calculated Risk 2024/7/20 09:32:00 AM
The main report this week is preliminary second quarter GDP figures.
Other key reports include existing home sales, new home sales and personal income and spending for June.
Regarding manufacturing, the Richmond and Kansas City Feds will release their July manufacturing surveys.
—– Monday, July 22nd —–
8:30 a.m. ET: Chicago Fed's National Activity Index for June, which is a composite index of other data. —– Tuesday, July 23 —–
10am: National Association of Realtors (NAR) existing home sales for June. The consensus is 4.0 million units (SAAR), down from 4.11 million units last month.
This chart shows existing home sales from 1994 through last month's report.
Housing economist Tom Lawler expects the NAR to report June home sales at 3.93 million on a SAAR basis.
10am: Richmond Fed July manufacturing activity survey.
—– Wednesday, July 24th —–
7:00 a.m. ET: The Mortgage Bankers Association (MBA) releases the results of its Mortgage Purchase Application Index.
10 a.m.: New home sales numbers for June from the Census Bureau.
This graph shows new home sales since 1963. The dashed line is last month's sales rate.
The consensus is for an increase to 640,000 SAAR from 619,000 in May.
Intraday: AIA Building Construction Claims Index for June (a leading indicator for commercial real estate).
—– Thursday, July 25th —–
8:30 a.m.: The first report of weekly jobless claims is released. The consensus forecast is for 238,000 initial claims, down from 243,000 last week.
8:30am: Second quarter gross domestic product (preliminary estimate) and annual update. The consensus is that real GDP grew at an annualized rate of 1.8% in the second quarter, up from 1.4% in the first quarter.
8:30 a.m.: Census Bureau durable goods orders for June. Durable goods orders are expected to increase 0.5%.
11:00am: Kansas City Fed's July manufacturing activity survey.
—– Friday, July 26th —–
8:30 AM ET: Personal income and spending, June 2024. Consensus expects personal income to increase 0.4% and personal spending to increase 0.2%. Also, the core PCE price index is expected to increase 0.2%. PCE prices are expected to increase 2.6% year-over-year and core PCE prices are expected to increase 2.6% year-over-year.
10am: University of Michigan Consumer Sentiment Index (July final value). Consensus is 66.0.