THIS WEEK'S MAJOR U.S. ECONOMIC REPORTS & FED SPEAKERS

TIME (ET) REPORT PERIOD ACTUAL MEDIAN FORECAST PREVIOUS

MONDAY, FEB. 21
Presidents Day holiday - None scheduled

TUESDAY, FEB. 22
9 am S&P Case-Shiller home price index (year-over-year change) Dec. -- 18.8%
9 am FHFA home price index (year-over-year change) Dec. -- 17.6%
9:45 am Markit manufacturing PMI (flash) Feb. 56.0 55.5
9:45 am Markit services PMI (flash) Feb. 52.2 51.2
10 am Consumer confidence index Feb. 109.5 113.8

WEDNESDAY, FEB. 23
None scheduled

THURSDAY, FEB. 24
8:30 am Initial jobless claims Feb. 19 234,000 248,000
8:30 am Continuing jobless claims Feb. 12 -- 1.59 million
8:30 am Gross domestic product revision (SAAR) Q4 6.9% 6.9%
8:30 am Gross domestic income (SAAR) Q4 -- 5.8%
10 am New home sales Jan. 806,000 811,000

FRIDAY, FEB. 25
8:30 am Nominal personal income Jan. -0.3% 0.3%
8:30 am Nominal consumer spending Jan. 1.5% -0.6%
8:30 am PCE inflation (monthly) Jan. -- 0.4%
8:30 am Core inflation (monthly) Jan. 0.5% 0.5%
8:30 am PCE inflation (year-over-year) Jan. -- 5.8%
8:30 am Real disposable income Jan. -- -0.2%
8:30 am Real consumer spending Jan. -- -1.0%
10 am UMich consumer sentiment (final) Feb. 61.6 61.7
10 am 5-year inflation expectations (final) Feb. -- 3.1%
10 am Pending home sales Jan. 0.8% -3.1%

Economic outlook

Up next for the markets: February 21 - February 25

James Chen
Head of Content Studio, J.P. Morgan Wealth Management

Feb 16, 2022 | 2 min read

• Investors will get more insight into how the economy is faring amid declining omicron cases when key economic data points are released next week.
• Manufacturing and services output for February and durable goods for January are on the agenda, providing more clarity into consumer demand.

With cases of omicron on the decline, investors want to know if consumer demand is holding up. They get insight into that this week when key economic data concerning demand is released including the U.S. manufacturing and services Purchasing Managers’ Index (PMI) for February. This leading indicator tracks new orders during the month.

The report on durable goods for January is also due. This measures the number of new orders for appliances, cars and other high-priced items placed in a given month. The housing market will also be of interest this week with the Case-Shiller/S&P Home Price Index for January and weekly mortgage applications slated for release.

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