Schedule for the week of June 26, 2022

on Estimated risk per 06/25/2022 08:11:00

The key reports this week are the third estimate of GDP for the first quarter, as well as personal income and spending for May.

Other key reports include the June ISM Manufacturing survey, June auto sales and April Case-Shiller home prices.

In terms of production, the Richmond and Dallas Fed June reviews will be released.

—– Monday, June 27 —–

8:30 AM: Durable Goods Orders for May from the Census Bureau. The consensus calls for a 0.1% increase in orders for durable goods.

10:00 AM: Index of pending home sales for May. The consensus is to lower the index by 2.0%.

10:30: Dallas Fed Operations Review for June.

—– Tuesday, June 28 —–

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

This chart shows the annual change in the seasonally adjusted National Index, Composite 10 and Composite 20 indices as of the most recent report (Composite 20 was launched in January 2000).

The consensus is to increase the Comp 20 index for April by 21.0% year on year.

9:00 AM: FHFA House Price Index for April 2021. Initially, these were repeat sales only on the GSE, however, there is also an extended index.

10:00 AM: Richmond Fed Operations Review for June.

—– Wednesday, June 29 —–

7:00 am ET: Mortgage Bankers Association (MBA) to release results mortgage bid index.

8:30 AM: Gross domestic product, Q1 2022 (Third estimate). All agree that real GDP declined 1.5% year-on-year in the first quarter, unchanged from the second estimate of a 1.5% decline.

—– Thursday, June 30 —–

Early: Census Bureau Post vintage 2021 population estimates

8:30 am: initial weekly jobless claims the report will be published. The consensus is 230K compared to 229K last week.

8:30 AM ET: Personal income and expenses, May 2022. The consensus is to increase personal income by 0.5% and increase personal spending by 0.5%. And for Core PCE, the price index will increase by 0.4%. PCE prices are expected to rise 6.2% year-on-year, while PCE benchmark prices are expected to rise 4.7% year-on-year.

quarter to ten: Chicago Purchasing Managers Index for June.

—– Friday, July 1 —–

10:00 AM: ISM manufacturing index for June. The general consensus is that the ISM should be at 55.0, up from 56.1 in May.

10:00 AM: Construction costs for May. The consensus is to increase construction spending by 0.4%.

Cars saleAt the end of the day: Sale of cars for June.

Passenger car sales are generally expected to be 13.6 million SAAR in June compared to 12.7 million in May (seasonally adjusted annualized).

This graph shows passenger car sales since BEA began collecting data in 1967. The dotted line is the sales level for the last month.

Wards Auto is sales forecasting or 13.3 million SAAR in June.