Vital Signs for the Week of July 25

On tap: Second-quarter employment cost index, July consumer confidence and sentiment, June new home sales, and more

In his semiannual testimony on the Federal Reserve's Monetary Policy Report to the Congress, Chairman Alan Greenspan noted the economic sky got cloudier in the second quarter. Nonetheless, economists expect real gross domestic product data due on July 29 to show a fairly decent gain of 3.4% in the previous quarter. More importantly, however, is the outlook for the second half. The coming week's data will provide some early indications of whether the economy is entering sunnier days.

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