by Risk calculated on 05/20/2023 08:11:00
The main reports this week are the second estimate of first quarter GDP, April new home sales and April personal income and spending.
For the manufacturing sector, the May Richmond and Kansas City Fed manufacturing surveys will be released.
—– Monday, May 22 —–
No major economic releases planned.
—– Tuesday, May 23 —–
10:00 AM: Sales of new homes for April from the Census Bureau.
This graph shows new home sales since 1963. The dotted line represents the sales rate for the last month.
The consensus is 660,000 SAAR, down from 683,000 SAAR in March.
10:00 AM: Richmond Fed survey of manufacturing activity for May.
—– Wednesday, May 24 —–
7:00 a.m. ET: The Mortgage Bankers Association (MBA) will release the results of the index of requests for the purchase of real estate loans.
During the day: The AIA’s Architecture Billing Index for April (a leading indicator for commercial real estate).
2 p.m.: FOMC MinutesMinutes of the meeting of May 2-3, 2023
—– Thursday, May 25 —–
8:30 a.m.: The initial weekly unemployment claims report will be published. The consensus is 250,000 initial complaints, down from 242,000 last week.
8:30 a.m.: Gross domestic product, 1st quarter 2023 (Second estimate). The consensus is that real GDP rose 1.1% annualized in the first quarter, unchanged from the prior estimate of 1.1%.
8:30 a.m. ET: Chicago Fed National Activity Index for April. It is a composite index of other data.
10:00 AM: Pending Home Sales Index for April. The consensus calls for a 0.5% rise in the index.
11 a.m.: the Kansas City Fed Manufacturing Survey for May.
—– Friday, May 26 —–
8:30 a.m. ET: Personal income and expenses, April 2023. The consensus is for a 0.4% increase in personal income and a 0.4% increase in personal expenditure. And for the Core PCE price index to rise 0.3%. PCE prices are expected to rise 4.3% year-over-year and core PCE prices up 4.6% year-on-year.
8:30 a.m.: Durable Goods Orders for April from the Census Bureau. The consensus is calling for a 1.1% drop in durable goods orders.
10:00 AM: University of Michigan Consumer Confidence Index (Final for May). The consensus is for a reading of 57.7.