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This week’s economic calendar is packed with key reports, adding a first look at the second quarter’s gross domestic product and the Federal Reserve’s measure of inflation. In addition, speeches by several Fed speakers will likely turn heads ahead of the central bank’s policy caucus at the end of the month.
You can read on to see the full weekly economic calendar of upcoming economic reports, which are scheduled to be released in the coming days. We sometimes provide detailed overviews and summaries of certain reports.
Check back often. This economic calendar is updated regularly. Reports in ambitious are considered the most notable, and all report times are displayed in Eastern Time.
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There are no notable economic events planned for Monday, July 22.
Wall Street will take a first look at second-quarter gross domestic product (GDP) ahead of Thursday’s open. After the U. S. economy grew by a respectable 1. 3% in the first quarter, second-quarter GDP is expected to reach around 2. 0%, Kiplinger writes. Economist David Payne in his GDP Outglance.
“Consumer spending is expected to remain decent, most likely growing more slowly than last year. Exports are expected to start developing again after a drop in the first quarter, and corporations will probably avoid reducing inventories as the long-term prospects for ongoing sales improve,” Payne said.
However, after better-than-expected retail sales for June, economists at Deutsche Bank forecast a slight 2. 1% in second-quarter GDP.
The most important event on the economic calendar is Friday’s release of the Consumer and Personal Expenditure Price Index (PCE). The data, which tracks customer spending, follows recent reports that seem to indicate that inflation is starting to return to a point the Federal Reserve is comfortable with. This, in turn, reinforced expectations that the central bank could start cutting interest rates as early as September.
In May, the PCE price index and core PCE, which excludes volatile food and energy prices, delivered the expected results (2. 6% YoY). Following last week’s release of June’s Consumer Price Index (CPI) and Producer Price Index (PPI), a team of Goldman Sachs economists forecast that headline PCE would rise to 2. 5% YoY in June and fundamental PCE would rise to 2. 6. %.
Reporting schedules are provided in Forex Market Factory and MarketWatch.
With over a decade of experience writing articles about the stock market, Karee Venema is a senior investment writer at Kiplinger. com. She joined the publication in April 2021 after 10 years as a columnist and investor at Schaeffer’s Investment Research. In his previous role, Karee focused primarily on feature trading, as well as technical, fundamental, and sentiment analysis.