Economy Week Ahead: U.S. Household Spending and Home Prices in Focus
Tuesday
S&P Global releases its S&P CoreLogic Case-Shiller National Home Price Index for January. Home prices rose 5.8% in the year ended in December, down from a 7.6% annual rate the prior month, the lowest December-to-December change since 2019. The National Association of Realtors last week separately said the median sale price of previously owned homes fell year-over-year in February for the first time in over a decade.
The Conference Board publishes its March consumer-confidence index, which measures Americans’ attitudes toward the economy and labor market. Consumer confidence worsened in February for the second month in a row.
Wednesday
The National Association of Realtors reports the number of home sales based on contract signings in February. Pending home sales rose in January from the prior month.
Thursday
The Labor Department reports the number of worker filings for unemployment benefits in the week ended March 25. Initial jobless claims edged lower in the prior week, showing the job market remains strong despite announced layoffs.
The Commerce Department releases its third estimate of output by the U.S. economy in the fourth quarter. The economy grew at a 2.7% annual rate in the final three months of last year, the second estimate showed.
Friday
The Commerce Department releases figures on U.S. household spending and income in February. Consumer spending jumped 1.8% in January from the prior month, the largest increase in nearly two years. The department also releases its personal-consumption expenditures price index, a gauge of inflation closely watched by the Federal Reserve. The PCE-price index rose 5.4% in January from a year earlier.
The European Union’s statistics agency releases March inflation figures for the eurozone. The bloc’s consumer prices were 8.5% higher in February from a year earlier, the fourth straight month of easing eurozone inflation.
The University of Michigan publishes its final reading of consumer sentiment for March. A preliminary reading showed that sentiment fell for the first time in four months, mainly over persistently high inflation.
Write to Bryan Mena at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Tuesday
S&P Global releases its S&P CoreLogic Case-Shiller National Home Price Index for January. Home prices rose 5.8% in the year ended in December, down from a 7.6% annual rate the prior month, the lowest December-to-December change since 2019. The National Association of Realtors last week separately said the median sale price of previously owned homes fell year-over-year in February for the first time in over a decade.
The Conference Board publishes its March consumer-confidence index, which measures Americans’ attitudes toward the economy and labor market. Consumer confidence worsened in February for the second month in a row.
Wednesday
The National Association of Realtors reports the number of home sales based on contract signings in February. Pending home sales rose in January from the prior month.
Thursday
The Labor Department reports the number of worker filings for unemployment benefits in the week ended March 25. Initial jobless claims edged lower in the prior week, showing the job market remains strong despite announced layoffs.
The Commerce Department releases its third estimate of output by the U.S. economy in the fourth quarter. The economy grew at a 2.7% annual rate in the final three months of last year, the second estimate showed.
Friday
The Commerce Department releases figures on U.S. household spending and income in February. Consumer spending jumped 1.8% in January from the prior month, the largest increase in nearly two years. The department also releases its personal-consumption expenditures price index, a gauge of inflation closely watched by the Federal Reserve. The PCE-price index rose 5.4% in January from a year earlier.
The European Union’s statistics agency releases March inflation figures for the eurozone. The bloc’s consumer prices were 8.5% higher in February from a year earlier, the fourth straight month of easing eurozone inflation.
The University of Michigan publishes its final reading of consumer sentiment for March. A preliminary reading showed that sentiment fell for the first time in four months, mainly over persistently high inflation.
Write to Bryan Mena at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8