This week’s most important economic data will likely come in the form of third quarter 2009’s advanced estimate of GDP, which should put an end to four consecutive quarters of declines. The U.S. government’s ‘Cash for Clunkers’ program during the quarter should help to boost the personal consumption component of GDP, while inventories declining at […]
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New Home Sales
Undoubtedly the most important item on this week’s calendar will be Wednesday’s FOMC announcement, which is highly unlikely to show any changes to the current policy stance. But, as always, the market will be paying close attention the wording of the FOMC’s statement, which turned slightly more constructive last month indicating that financial markets have […]
New home sales rose 9.6% to a rate of 433K in July, compared to a consensus forecast of 390K, and a previous reading of 384K units. The rate of sales increased in July to its highest level since September 2008. The inventory of new homes fell to 7.5 months from 8.5 a month prior. The […]
This week looks to be another whirlwind week of significant economic releases coming from the consumer and housing sectors, along with an update on 2Q09 GDP growth. In addition to this, Monday will see the end of the US government’s highly successful ‘Cash for Clunkers’ program, which over the course of its existence has positively […]
New Home Sales rose by 11.0% in June, realizing an annual rate of sales of 384,000 units versus last month’s revised pace of 346,000. This was the index’s largest gain in eight years. New home sales increased in every region, excluding the south. The supply of new homes in June fell to 8.8 from 10.2 […]
We have a rather tumultuous week in terms of economic data, which will focus on the US housing sector, consumer confidence, durable goods, and US GDP. The week kicks off Monday morning with the US Census Bureau reporting June’s new home sales. Recent housing data has been indicative of a bottom for the sector, so […]