Economic Events 23/08/2012

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06:00 EUR German Gross Domestic Product Q2F (QoQ)

 

Forecast: 0.3% Previous: 0.3%

 

Change in the inflation-adjusted value of all goods and services produced by the economy.

 

06:00 EUR German Gross Domestic Product Q2F (YoY)

 

Forecast: 1.0% Previous: 1.0%

 

Change in the inflation-adjusted value of all goods and services produced by the economy.

 

07:30 EUR German Purchasing Manager Index Manufacturing August

 

Forecast: 43.4 Previous: 43

 

Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry. It’s a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy.

 

07:30 EUR German Purchasing Manager Index Services August

 

Forecast: 50.1 Previous: 50.3

 

Level of a diffusion index based on surveyed purchasing managers in the services industry. It’s a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy.

 

12:30 USD Initial Jobless Claims August 18

 

Forecast: 365K Previous: 366K

 

The number of individuals who filed for unemployment insurance for the first time during the past week. Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.

 

14:00 USD New Home Sales July

 

Forecast: 365K Previous: 350K

 

Annualized number of new single-family homes that were sold during the previous month. It’s a leading indicator of economic health because the sale of a new home triggers a wide-reaching ripple effect. For example, furniture and appliances are purchased for the home, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction.

 

14:00 USD House Price Index June

 

Forecast: 0.5% Previous: 0.8%

 

Change in the purchase price of homes with mortgages backed by Fannie Mae and Freddie Mac. It’s a leading indicator of the housing industry’s health because rising house prices attract investors and spur industry activity.

 

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