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Weekly Economic Monitor -- This and That

By: Scott J. Brown, PH.D., Raymond James

This and That – The Bureau of Economic Analysis will report the advance estimate of 1Q21 GDP growth on April 28, the day after the Federal Open Market Committee meeting. There’s always a lot of uncertainty heading into the initial GDP estimate. We don’t have all the pieces of the puzzle. Recent economic data reports have generally been stronger than expected, which is encouraging, but the first quarter figures may not tell us much about what lies ahead.

This Week – The economic calendar is relatively thin. March home sales figures (existing on Thursday, new on Friday) should rebound sharply from February’s weather-related weakness. The Conference Board’s Index of Leading Economic Indicators should jump higher (about +1.2%), with most components making positive contributions. The following week will be more eventful.