By Calculated Risk

The key reports this week are the second estimate of Q2 GDP, July New Home sales, and Personal Income and Outlays for July.

For manufacturing, the August Richmond and Kansas City Fed surveys will be released.

Fed Chair Jerome Powell will speak on the “Economic Outlook” at the Jackson Hole Symposium on Friday.

The BLS will release the preliminary employment benchmark revision on Wednesday.

—– Monday, Aug 22nd —–

8:30 AM ET: Chicago Fed National Activity Index for July. This is a composite index of other data.

—– Tuesday, Aug 23rd —–

New Home Sales

10:00 AM: New Home Sales for July from the Census Bureau.

This graph shows New Home Sales since 1963. The dashed line is the sales rate for last month.


The consensus is for 575 thousand SAAR, down from 590 thousand in June.

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

—– Wednesday, Aug 24th —–

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

8:30 AM: Durable Goods Orders for July from the Census Bureau. The consensus is for a 0.5% increase in durable goods orders.

10:00 AM: Pending Home Sales Index for July. The consensus is for a 3.8% decrease in the index.

10:00 AM: the Bureau of Labor Statistics (BLS) will release the 2022 Preliminary Benchmark Revision to Establishment Survey Data.

During the day: The AIA’s Architecture Billings Index for July (a leading indicator for commercial real estate).

—– Thursday, Aug 25th —–

8:30 AM: Gross Domestic Product, 2nd quarter 2022 (second estimate). The consensus is that real GDP decreased 0.8% annualized in Q2, up from the advance estimate of -0.9% in Q2.

8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for an increase to 253 thousand from 250 thousand last week.

11:00 AM: the Kansas City Fed manufacturing survey for August.

—– Friday, Aug 26th —–

8:30 AM ET: Personal Income and Outlays, July 2022. The consensus is for a 0.6% increase in personal income, and for a 0.4% increase in personal spending. And for the Core PCE price index to increase 0.3%.  PCE prices are expected to be up 6.4% YoY, and core PCE prices up 4.7% YoY.

10:00 AM: Speech, Fed Chair Jerome Powell, Economic Outlook, At the Jackson Hole Economic Policy Symposium

10:00 AM: University of Michigan’s Consumer sentiment index (Final for August). The consensus is for a reading of 55.1.

Original Article – Calculated Risk Blog

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