Schedule for Week of July 26, 2020

The key report this week is the advance estimate of Q2 GDP.

Other key reports include 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.

—– Monday, July 27th —–

8:30 AM: Durable Goods Orders for June from the Census Bureau. The consensus is for a 7.2% increase in durable goods orders.

10:30 AM: Dallas Fed Survey of Manufacturing Activity for July.

—– Tuesday, July 28th —–

Case-Shiller House Prices Indices9:00 AM: S&P/Case-Shiller House Price Index for May.

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 4.0% year-over-year increase in the Comp 20 index for May.

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 2019 Housing Vacancies and Homeownership report from the Census Bureau.

—– Wednesday, July 29th —–

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

10:00 AM: Pending Home Sales Index for June. The consensus is for a 15.3% increase in the 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.

—– Thursday, July 30th —–

8:30 AM: Gross Domestic Product, 2nd quarter 2020 (advance estimate), and annual update. The consensus is that real GDP decreased 34.0% annualized in Q2, down from -5.0% in Q1.

8:30 AM: The initial weekly unemployment claims report will be released. The early consensus is for a 1.550 million initial claims, up from 1.416 million the previous week.

—– Friday, July 31st —–

8:30 AM ET: Personal Income and Outlays, June 2020. The consensus is for a 0.5% decrease in personal income, and for a 5.5% increase in personal spending. And for the Core PCE price index to increase 0.2%.

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 72.9.