The Empire State Manufacturing (Mon., Aug. 16, 8:30 a.m.) and Philadelphia Fed (Thu., Aug. 19, 10:00 a.m.) Surveys are indicators of regional manufacturing activity that can foreshadow the national picture. These indices lately have suggested hesitation in production, employment and exporting, and in industry more generally.

Productivity & Costs (Tue., Aug. 10, 8:30 a.m.) will provide an initial look at Q2 unit labor costs and be suggestive about potentially higher profits and downside inflation risks. The Trade Balance (Wed., Aug. 11, 8:30 a.m.) and its track of exports and imports can indicate the strength of the global economy and its many “open” economies.

New Home Sales (Mon., Jul. 26, 10:00 a.m.) will offer a view of the housing market post-tax credits. Underlying demand for homes still appears depressed.

Housing Starts (Tue., Jul. 20, 8:30 a.m.) will provide a forward look at residential construction, now less than 3% of real GDP. Builders remain pessimistic.

The Trade Balance (Tue., Ju1. 13, 8:30 a.m.) and its track of exports and imports can indicate the strength of the global economy with many “open” economies. Can the improvement in U.S. exports continue or will economic weakness offshore depress them?

The ISM Non-Manufacturing Survey (Tue., Jul. 6, 10:00 a.m.) is a high-frequency gauge for the services sector, about 60% to almost 85% of the economy, depending on the measure.

Existing Home Sales (Tue., Jun. 22, 10:00 a.m.) and New Home Sales (Wed., Jun. 23, 10:00 a.m.) have gotten a temporary boost from the tax credit. Which way going forward? The “Third” Gross Domestic Product (Fri., Jun. 25, 8:30 a.m.) report will provide a final look at the overall economy in Q1.

Existing Home Sales (Tue., Jun. 22, 10:00 a.m.) and New Home Sales (Wed., Jun. 23, 10:00 a.m.) have gotten a temporary boost from the tax credit.

The ISM Manufacturing Survey (Tue., Jun. 1, 10:00 a.m.) is the definitive manufacturing activity diffusion measure. A strong upturn in manufacturing has been a key element of the economic recovery.

Existing Home Sales (Mon., May 24, 10:00 a.m.) and New Home Sales (Wed., May 26, 10:00 a.m.) are getting a temporary boost from the tax credit. Which way going forward? The S&P/Case-Shiller Index (Tue., May 25, 9:00 a.m.) is a key gauge of housing prices, for both year-on-year changes and on a running basis.