New home sales slowed to a lower-than-expected 412,000 annual sales rate in July. Durable orders jumped 22.6% in July due to aircraft orders. The S&P Case-Shiller home price index fell 0.2% in June. In a 2nd estimate of the 2nd quarter of 2014, GDP grew 4.2% annualized. The pending home sales index increased 3.3% to 105.9 for July. Initial jobless claims fell 1,000 to 298,000 for the week ended 8/23.

• New home sales slowed to a lower-than-expected 412,000 annual sales rate in July. The median price fell 3.7% to $269,800; year over year, the median price is up 2.9%, below the sales gain of 12.3% from a year ago.

• Durable orders jumped 22.6% in July due to aircraft orders. Excluding transportation, durables fell 0.8%; from a year ago, new orders are up 33.8% and excluding transportation, are up 6.6%.

• The S&P Case-Shiller home price index fell 0.2% in June. From a year ago, the index is up 8.1%, not seasonally adjusted. The DC-Washington home price index is up 0.55% for the month, up 5.29% from a year ago.

• In a second estimate of the 2nd quarter of 2014, GDP grew 4.2% annualized. The increase in nonresidential fixed investment was larger than previously estimated while private inventory investment was smaller. The previous estimate was 4.0%.

• The pending home sales index increased 3.3% to 105.9 for July.

• Personal income increased 0.2% while personal spending fell 0.1% in July. From a year ago, personal spending is up 4.3% while personal spending is up 3.6%. The PCE price index is up 0.1% for the month and up 1.6% from a year ago.

• Initial jobless claims fell 1,000 to 298,000 for the week ended August 23rd.