Business Week Index: THE WEEK AHEAD
BusinessWeek Index: THE WEEK AHEAD
Tuesday, Jan. 24
The U.S. Treasury will likely report a deficit of $4 billion for December, says
the median forecast of economists surveyed by MMS International, a division of
McGraw-Hill Inc. Quarterly income tax payments are due in December, but the
government had to send out January Social Security payments early because Jan.
1 was the New Year's holiday. In December, 1993, Washington chalked up a
deficit of $7.7 billion. The nonpartisan Congressional Budget Office recently
projected that the federal deficit for fiscal 1995, which began in October,
will total $176 billion. In 1994, the government's deficit was $203.4 billion.
EXISTING HOME SALES
Wednesday, Jan. 25, 9:45 a.m.
Sales of existing homes likely fell to an annual rate of 3.76 million in
December. If so, that would be the fourth drop in five months. In November,
resales fell 2.6%, to 3.81 million.
DURABLE GOODS ORDERS
Thursday, Jan. 26, 8:30 a.m.
The MMS median forecast is that new orders for durable goods in December were
little changed from their November level. In that month, increased bookings for
aircraft and motor vehicles led to a solid 3.4% gain in total new orders.
Unfilled orders probably dropped last month, after rising a small 0.6% in
GROSS DOMESTIC PRODUCT
Friday, Jan. 27, 8:30 a.m.
Real GDP likely grew at an annual rate of 4.3% in the fourth quarter of 1994,
says the MMS report. Thanks to strong job and income growth, consumers
continued to increase their spending at a pace exceeding 4%. Business
investment in equipment and nonresidential construction also probably added to
growth at yearend. The fourth quarter would mark the third straight quarter
that the U.S. economy grew by 4% or more. In the third period, real GDP
expanded at a pace of 4%. Inflation, as measured by the GDP price deflator, is
expected at an annual rate of 2.2% in the fourth quarter, about the same rate
as in the third quarter.