(MENAFN– ecpulse) The next week in the U.S. will feature housing data and durable goods, but will otherwise be light on economic releases.
Housing data to be released next week include March existing home sales Tuesday at 10:00 a.m. ET, March new home sales Wednesday at 10:00 a.m. ET, and the Federal Housing Finance Authority`s February home price index Tuesday at 9:00 a.m. ET.
Housing data generally are expected to remain on the weak side, particularly after March housing starts came in below forecast.
Housing starts rose to an annual rate of 946,000 in the March report, below forecast for a rate of 975,000, according to a survey of economists by MNI.
Rising mortgage rates, while still low by historical standards, were one of the factors likely putting pressure on the market, with bad weather conditions not the only factor affecting the poor performance of the U.S. housing sector.
The weakness in housing starts comes at a particularly important time for the housing market, as supply restrictions are also holding the market back ahead of the spring selling season.
The durable goods report, to be released Thursday at 8:30 a.m. ET, is expected to show headline strength off aircraft orders, while core orders are likely to remain modest, in line with regional manufacturing data such as the New York Federal Reserve`s Empire State manufacturing index, which posted 5.6 in March, and the Philadelphia Federal Reserve`s survey of business, which posted a reading of 9.0.
Other data to be released next week include initial jobless claims Thursday at 8:30 a.m. ET, the University of Michigan`s final April consumer sentiment index Friday at 9:55 a.m. ET, March leading economic indicators Monday at 10:00 a.m. ET, and the Mortgage Bankers Association`s mortgage applications index Wednesday at 7:00 a.m. ET.
There are no Federal Reserve speakers scheduled next week ahead of the next meeting of the Federal Open Market Committee, scheduled for April 29-30.
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