This week’s economic releases will reveal whether growth accelerated in the second quarter after a sluggish start to the year. A busy week also features a Federal Reserve meeting that’s not expected to include an interest rate hike and the latest reports on home sales and business investment.
Existing home sales have increased solidly this year but have been restrained by skimpy supplies. In May, sales edged up 1.1% despite an 8.4% drop in inventories from a year ago, notes Nomura economist Lewis Alexander.
