U.S. Economic Radar – August 23, 2013

Recap of the past week’s U.S. economic releases:

1). New home sales sunk 13.4% in July to a seasonally adjusted annual rate of only 394k. That rate is 6.8% higher than the same month a year ago.

2). The Chicago Fed National Activity Index was a reading of -0.15 in July. That is up slightly from June but is still below its historical trend.

3). The FHFA house price index was up 7.7% year over year in June.

4). The Kansas City Fed manufacturing survey was a reading of +8 in August, indicating expansion at a faster rate than in July.

5). The unemployment rate was up in 9 states year over year in July.

6). Initial jobless claims for the week increased slightly to 336k but remain low. The insured unemployment rate was unchanged from the week prior at 2.3%.

7). Both weekly store sales indexes were unchanged from their week-ago readings of up 2.4% Y/Y (4 week MA) and up 3.4% Y/Y (4 week MA).

The U.S. economic schedule for the week ahead:

Monday, August 26, 2013

1). Durable Goods Orders – Last up 10.4% Y/Y.

2). Dallas Fed Manufacturing Survey – Last +4.4.

Tuesday, August 27, 2013

1). Consumer Confidence – Last 80.3.

2). S&P Case-Shiller House Price Index – Last up 12.4% Y/Y.

3). Richmond Fed Manufacturing Survey – Last -11.

4). Weekly Store Sales

Wednesday, August 28, 2013

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Thursday, August 29, 2013

1). Gross Domestic Product – Last SAAR +1.68%.

2). Weekly Initial Jobless Claims

Friday, August 30, 2013

1). Personal Income and Outlays – Last up 0.6% Y/Y, up 2.0% Y/Y.

2). Chicago PMI – Last 52.3.

3). Consumer Sentiment – Last 80.0.

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