Economic Events on August 29, 2012

The Mortgage Bankers’ Association purchase index will be released at 7:00 AM Eastern time, providing an update on the quantity of new mortgages and refinancings closed in the last week.

At 8:30 AM Eastern time, the preliminary GDP report for the second quarter of 2012 will be announced.  The consensus is an increase of 1.7% in real GDP and an increase of 1.6% in the GDP price index.  The real GDP estimate is 0.2% higher than the advance value for the second quarter of 2012, and the GDP price index is the same.

Also at 8:30 AM Eastern time, the monthly Corporate Profits report from the Bureau of Economic Analysis will be released.

At 10:00 AM Eastern time, the pending home sales index for July will be announced.  The consensus is that the index increased 1.0% last month.

At 10:30 AM Eastern time, the weekly Energy Information Administration Petroleum Status Report will be released, giving investors an update on oil inventories in the United States.

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