The key reports this week are the third estimate of Q4 GDP, February New and Existing Home Sales, and February Personal Income and Outlays.
For manufacturing, the March Richmond and Kansas City manufacturing surveys will be released.
Also Fed Chair Powell testifies on the Coronavirus Aid, Relief, and Economic Security Act.
8:30 AM ET: Chicago Fed National Activity Index for February. This is a composite index of other data.
9:00 AM: Discussion, Fed Chair Powell, How Can Central Banks Innovate in the Digital Age?, At the Bank for International Settlements Innovation Summit
10:00 AM: Existing Home Sales for February from the National Association of Realtors (NAR). The consensus is for 6.50 million SAAR, down from 6.69 million.
The graph shows existing home sales from 1994 through the report last month.
Housing economist Tom Lawler expects the NAR to report sales of 6.29 million SAAR for February.
10:00 AM: New Home Sales for February from the Census Bureau.
This graph shows New Home Sales since 1963. The dashed line is the sales rate for last month.
The consensus is for 885 thousand SAAR, down from 923 thousand in January.
10:00 AM: Richmond Fed Survey of Manufacturing Activity for March.
12:00 PM: Testimony, Fed Chair Powell, Coronavirus Aid, Relief, and Economic Security Act, Before the Committee on Financial Services, U.S. House of Representatives
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
8:30 AM: Durable Goods Orders for February from the Census Bureau. The consensus is for a 0.8% increase in durable goods orders.
10:00 AM: Testimony, Fed Chair Powell, Coronavirus Aid, Relief, and Economic Security Act, Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate
During the day: The AIA’s Architecture Billings Index for February (a leading indicator for commercial real estate).
8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for a decrease to 740 thousand from 770 thousand last week.
8:30 AM: Gross Domestic Product, 4th quarter 2020 (Third estimate). The consensus is that real GDP increased 4.1% annualized in Q4, the same as the second estimate of 4.1%.
11:00 AM: the Kansas City Fed manufacturing survey for March.
8:30 AM ET: Personal Income and Outlays, February. The consensus is for a 7.0% decrease in personal income, and for a 0.6% decrease in personal spending. And for the Core PCE price index to increase 0.1%.
10:00 AM: University of Michigan’s Consumer sentiment index (Final for March). The consensus is for a reading of 83.5.
10:00 AM: State Employment and Unemployment (Monthly), February 2021