Schedule for the week of July 21, 2024

Last updated: July 20, 2024 5:48 pm

By bexib 3 Min Read

by Calculated Risk July 20, 2024 9:32 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 AM EST Chicago Fed National Activity Index This is for June. This is a composite index of other data.

—– Tuesday, July 23rd —–

10 am: Existing Home Sales The National Association of Realtors (NAR) announced June home sales. The consensus forecast was 4 million SAAR, down from last month’s 4.11 million.

This chart shows existing home sales from 1994 through last month’s report.

Housing Economist Tom Lawler is hopeful. NAR reported June sales of 3.93 million units on a SAAR basis.

10 am: Richmond Fed Manufacturing Activity Survey July edition.

—– Wednesday, July 24th —–

7:00 AM EST: The Mortgage Bankers Association (MBA) Mortgage Purchase Application Index.

10 am: New Home Sales June statistics 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.

Daytime: AIA Billings Index of Architecture (leading indicator for commercial real estate) in June.

—– Thursday, July 25th —–

8:30 AM: Unemployment claims (weekly) The report is due to be released. The consensus is for new claims to be 238,000, down from last week’s 243,000.

8:30 AM: Gross domestic product, second quarter (preliminary), annual updateThe consensus is that real GDP grew at a 1.8% annualized rate in the second quarter, up from 1.4% in the first quarter.

8:30 AM: Durable Goods Orders The Census Bureau releases durable goods orders for June. The consensus estimate is for durable goods orders to increase 0.5%.

11AM: Kansas City Fed Manufacturing Activity Survey July edition.

—– Friday, July 26th —–

8:30 AM EST Personal Income and Expenditures, June 2024Personal income is expected to increase 0.4%, and personal consumption is expected to increase 0.2%. 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.

10 am: University of Michigan Consumer Sentiment Index (July final value). The consensus is 66.0.