Week 9 of the 2020 U.S. Economic Calendar highlights house pricing, manufacturing, and consumer indexes.
On Monday, February 24, the U.S. Stock Market tumbled 900 points as Coronavirus cases surged in South Korea and Italy. Further cases are being reported in China, Iran and the United States. Nearly 75,000 cases have been reported with more than 2,500 deaths in one month since the initial outbreak.
While equity markets struggle to price in the value of goods and services, the major U.S. airlines are also taking a financial blow. Restrictions to flights in and out of China, as well as limited routes to other infected segments are hurting projected revenues across the globe.
Over the weekend in Nevada, Vermont Senator Bernie Sanders took a decisive victory in the state’s Democratic Party Primary. This marks the second-consecutive total victory for Sanders on the path to becoming the Democratic Party nominee for President. Finishing behind Sanders were former Vice President Joe Biden, South Bend Mayor Pete Buttigieg, and Massachusetts Senator Elizabeth Warren. The six remaining candidates will continue their journeys to the primary nominee this week in South Carolina.
Here are your key economic updates for the week ahead – February 24-28:
Monday, February 24
- Chicago Fed National Activity Index
- Dallas Fed Manufacturing Survey
Tuesday, February 25
- FHFA House Price Index
- S&P/Case-Shiller House Price Index
- Richmond Fed Manufacturing Survey
Wednesday, February 26
- MBA will release mortgage purchase applications index
- New Home Sales from Census Bureau — consensus is 715,000 up from 694,000.
Thursday, February 27
- Weekly unemployment claims
- Real GDP — consensus is 2.1% (unchanged)
- Kansas City Fed Manufacturing Survey
- Durable Goods Orders — consensus is 1.5% decrease
Friday, February 28
- Personal Income and Outlays report — consensus is 0.3% increase in both consumer income and spending
- University of Michigan Consumer Confidence Index — consensus is just over 100
- Chicago Purchasing Managers Index