U S Economic Indicators Data today

Pending Home Sales

U.S. Pending home sales rose 1 percent in July, after falling 1.4 percent in June, according to a Bloomberg survey before the National Association of Realtors’ report.

Prelim GDP Data 

The U.S. economy grew at a 1.7 percent pace in the second quarter, more than the 1.5 percent rate the government estimated a month ago, another Bloomberg survey showed ahead of today’s data.



Fed’s Beige Book

 Beige Book will likely report that regional economic activity continued to increase at a modest to moderate pace. We expect retail sales continued to expand in most districts but weakness in manufacturing activity would be consistent with disappointing activity reports from the August Philly Fed and Empire Manufacturing surveys. The Beige Book may contain reports of higher energy prices, and concerns over drought-related price increases for some agricultural goods will be mentioned as well as reduced crop yields in the nation’s bread basket. However, overall price inflation remains limited. Residential real-estate market conditions were likely positive, maintaining an overall increasing trend in housing construction. Employment levels likely posted small gains but wage pressures are expected to have remained quite modest. The report provides a regional backdrop of economic activity that will be reviewed at the 12-13 September FOMC meeting, which will be crucial as committee members assess whether economic conditions warrant additional stimulus.