Reports to Watch
The week is full of key economic data from a variety of sectors.
- Housing data will come from Tuesday’s Housing Market Index and Wednesday’s Housing Starts and Building Permits.
- Regional manufacturing data will be released in Tuesday’s Empire State Index and Thursday’s Philadelphia Fed Index.
- Consumer data will be shared in Tuesday’s report on Retail Sales followed by the Consumer Sentiment Index on Friday.
- The July FOMC minutes will be released Wednesday.
- As usual, weekly Initial Jobless Claims come out Thursday.
The Federal Reserve will be closely monitoring this week’s economic data to gauge the health of the U.S. economy.
Personal incomes have decreased while auto sales missed expectations recently. Also, retail sales slipped and consumer confidence edged lower.
On the flip side, job growth has been robust and home price gains continue, albeit due in part to low inventories of homes for sale on the market.
This week’s dose of data will be key in the Federal Reserve’s quest to hike its short-term Fed Funds Rate and to wind down its massive balance sheet. The release of July’s FOMC minutes could answer some questions regarding timing of these actions.
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