Economic data from the U.S. this week will see the release of the monthly durable goods orders report.

According to economists polled, durable goods are forecast to rise 0.3% on the month on core while headline durable goods orders are expected to post a decline of 2.5% on the month.

Later in the week, on Wednesday the second revised GDP estimates will be released.

Economists forecast that on an annualized basis, the GDP in the United States is expected to be revised down to 2.5% slightly down from 2.6% increase that was reported previously.

The price index is expected to remain unchanged at 2.4% however.

Later in the week the core PCE data will be coming up.

Forecasts point to a 0.3% increase on a month over month basis, but the annual change is expected to remain unchanged at 1.5%.

Personal income and spending data are also expected to come off slightly lower at 0.2%.