Monday, December 21, 2015
The Week Ahead...
Housing will be front and center heading into Friday's Christmas.
Tuesday will see the release of existing home sales where growth, held
down by lack of homes on the market, has been soft. Data on home prices
have been mixed but the FHFA report, also released on Tuesday, has been
showing life with a year-on-year rate over 6 percent. New home sales,
where sales have been very choppy and modest overall, will be posted on
Wednesday with the Econoday consensus calling for a respectable 1.6
percent rise. Personal income and outlays will also be posted Wednesday
in a report that is expected to show only modest gains and only a 0.1
percent rise for the core PCE price index which is the Fed's most
important inflation reading. Durable goods orders, held down by weak
foreign demand and weakness in energy equipment, are not expected to
show strength in data also released on Wednesday. Jobless claims, where
data can be very choppy during the holidays, will round out the
shortened week out on Thursday.
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