Economy Week Ahead: Housing, Jobless Claims, ECB
Starts seen rising in June as housing market, along with sales of existing homes
The U.S. housing market is in focus during a relatively light week for economic data.
U.S. housing starts are expected to rise in June. Builders have been caught between strong demand from buyers on one side, and rising materials costs and difficulty securing lots and labor on the other. The limited supply of homes coming on the market has contributed to rising housing prices.
The European Central Bank makes its first policy announcement since concluding a strategy review that signaled a greater tolerance for an inflation rate that is above its previous target. Policy makers are expected to leave their stimulus measures unchanged as new Covid-19 infections rise across the eurozone, threatening to slow the currency area’s economic recovery.