US Week Ahead: NFP, ISM, Trade Balance, PCE Deflator, Factory Orders, Cons Conf, Hous The August Personal Consumption Expenditures (PCE) index likely fell 0.1% on the month, pushing down YoY growth to 1.4%. Core (excluding food and energy) PCE likely was flat and softened to a 1.4% YoY growth rate. PCE growth likely declined in line with the 0.2% fall in August top-line CPI. We expect the top-line PCE deflator to fall 0.1%, resulting in YoY growth of 1.4% vs 1.6% YoY in July. Core (excluding food and energy) was likely flat on the month, matching unchanged August core CPI. This implies core PCE decelerated to a 1.4% YoY pace, down from 1.5% YoY in July, suggesting a softening in the Fed’s preferred inflation gauge. We expect August pending home sales to rise 0.9% following a strong 3.3% increase in July. Pending home sales likely continued to rise in August after a solid 3.3% increase in July. Sales of new homes, which track well with pending sales, surged in August and were revised up in July. Mortgage applications, however, were down 1.7% in August after being unchanged in July. We look for pending home sales to rise, albeit at a softer pace in August, providing forward momentum for existing home sales in the coming months. read more : forex-tsd/financial-news-analytics/26338-forex-news-677.html#post705262
Posted on: Sat, 27 Sep 2014 22:21:06 +0000
Trending Topics
Recently Viewed Topics
© 2015