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Thursday: Unemployment Claims, GDP

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Thursday:
• At 8:30 AM ET, the initial weekly unemployment claims report will be released.  The consensus is for an increase to 218 thousand from 213 thousand last week.

• Also, at 8:30 AM, Gross Domestic Product (Third Estimate), GDP by Industry, and Corporate Profits (Revised), 2nd Quarter 2022 and Annual Update The consensus is that real GDP decreased 0.6% annualized in Q2, unchanged from the second estimate of -0.6%.

On COVID (focus on hospitalizations and deaths):

COVID Metrics  NowWeek
AgoGoal New Cases per Day250,39755,529≤5,0001 Hospitalized223,53125,768≤3,0001 Deaths per Day2354379≤501 1my goals to stop daily posts,
27-day average for Cases, Currently Hospitalized, and Deaths
🚩 Increasing 7-day average week-over-week for Cases, Hospitalized, and Deaths
✅ Goal met.
Click on graph for larger image.

This graph shows the daily (columns) and 7-day average (line) of deaths reported.

NOTE: Cases have declined by more than half, and deaths lag cases – so we might see average daily deaths in the 200s soon (better, but still too high).
Average daily deaths bottomed in July 2021 at 214 per day.

A few comments on the Seasonal Pattern for House Prices

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