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Building, consumer data on agenda

Mike Yamamoto (mike.yamamoto@optionmonster.com)

The pace of economic data slows today, with reports focusing on housing and consumer sentiment.

Housing starts for July will be reported at 8:30 a.m. ET. The consensus forecast calls for 895,000, up from June's 836,000.

Building permits for July will be released at the same time. Those are expected to total 934,000, up from the previous month's 911,000.

Second-quarter productivity and labor costs will also be announced at 8:30 a.m. ET. Analysts expect a rise of 0.7 percent in productivity, up from the previous 0.5 percent report. The consensus estimate for unit labor costs is -0.3 percent, compared with the previous reading of -4.3 percent.

The University of Michigan's consumer-sentiment survey for August will come out at 9:55 a.m. ET. Economists anticipate a reading of 85.1, the same as the July's number.

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