NEW YORK, Aug. 26 (UPI) -- Reports in the final week of the month include the second estimate of the second quarter's economic growth and a report on personal spending.
The gross domestic product for the second quarter has been estimated at 1.7 percent, as the economy remains in a modest growth trend following a 1.1 percent gain in the first quarter over the fourth quarter of 2012.
On Thursday, the Department of Commerce could either confirm or revise that 1.7 percent estimate, as more data that goes into the final report has become available.
On Friday, the Commerce Department releases its report on consumer spending in July, which is a critical component of the GDP.
The week includes several key reports. On Monday, the U.S Census Bureau, part of the Department of Commerce, reported a sharp decline in durable goods orders, which fell 7.3 percent in July.
On Tuesday, the closely watched S&P/Case-Shiller Home Price Indices for June is set for release, as is the Conference Board's report on consumer confidence for August.
On Wednesday, the Mortgage Bankers Association releases a weekly report on interest rates for home loans. Also on Wednesday, the National Association of Realtors is scheduled to release a report on U.S. pending home sales for July.
On Thursday, alongside the GDP estimate, the Commerce Department is set to release a report on personal spending in the second quarter. The Labor Department's weekly report on first-time unemployment benefit claims will also be released.
Friday's reports include a Eurostat report on the July's unemployment rate in the eurozone and, separately, reports on Europe's consumer price index and on economic confidence among consumers and business managers.
In the United States, Friday's reports include the personal spending report for July and the Chicago area's purchasing managers index, which measures business activity in Illinois, Indiana and Michigan.
