Consumer confidence report and home sales data this week

This week, the Conference Board is set to release its monthly index of U.S. consumer confidence, with expectations indicating a slight decline from August's reading. The index, which gauges Americans' views on current economic conditions and their outlook for the next six months, is crucial for understanding consumer sentiment. A reading of 90 or above is considered indicative of a healthy economy. Recent data shows consumer confidence fluctuating, with August's reading at 103.3 and an estimated September reading of 102.9. On Wednesday, the Commerce Department will provide an update on new U.S. home sales, with economists predicting a slowdown in sales for the previous month. Despite this anticipated decline, a recent decrease in mortgage rates has improved the outlook for new home sales as the market heads into the next year. The estimated sales for August are projected at 700,000, following a strong performance in July. Additionally, the Commerce Department will release its final estimate of second-quarter economic growth on Thursday. Economists forecast a robust growth rate of 3% for the April to June period, driven by strong consumer spending and business investment. This follows a sluggish growth rate of 1.4% in the first quarter, highlighting a significant rebound in economic activity. Overall, these reports will provide critical insights into consumer confidence, housing market trends, and economic growth, shaping expectations for the remainder of the year and influencing future economic policies.