U.S. consumer confidence index release on Tuesday

The Conference Board is set to release its monthly index of U.S. consumer confidence on Tuesday, with economists predicting a slight decline in the September reading compared to August. A reading of 90 or higher indicates a robust economy, and the index gauges Americans' views on current economic conditions and their expectations for the next six months. Recent data shows consumer confidence readings for the past months, with August at 103.3 and September estimated at 102.9. Following the consumer confidence report, the Commerce Department will provide an update on new U.S. home sales on Wednesday. Analysts anticipate a slowdown in sales for the previous month, although a recent decrease in mortgage rates has improved the outlook for new home sales as the Federal Reserve prepares to cut short-term rates. The projected sales for August are estimated at 700,000, down from previous months. On Thursday, the Commerce Department will release its final estimate of second-quarter economic growth, with expectations of a healthy 3% annual growth rate from April to June. This growth is attributed to strong consumer spending and business investment, a significant rebound from the sluggish 1.4% growth rate recorded in the first quarter of 2023. These upcoming reports are crucial for understanding the current economic landscape in the U.S., as they reflect consumer sentiment, housing market trends, and overall economic performance. The data will provide insights into the potential direction of the economy as it navigates challenges and opportunities ahead.