Business Week Index
THE WEEK AHEAD
EMPLOYMENT COST INDEX
Tuesday, Oct. 28, 8:30 a.m.EST -- The third-quarter ECI for civilian workers is
expected to show a rise of 0.8%, based on the median forecast of economists
surveyed by MMS International, a unit of The McGraw-Hill Companies. The ECI
also rose 0.8% in the second quarter.
Tuesday, Oct. 28, 10:00 a.m.EST -- The Conference Board's index of consumer
confidence is expected to have dipped to 128.0 in October, based on the MMS
survey, down from 128.6 in September. However, the September reading was only a
shade below the 28-year high of 129.9 hit in June.
DURABLE GOODS ORDERS
Wednesday, Oct. 29, 8:30 a.m.EST -- Orders taken by manufacturers of durable
goods in September are projected to have declined 0.5%, says the MMS poll,
after soaring 2.7% in August. Based on a three-month moving average, the trend
on new bookings would still be firmly upward.
SINGLE-FAMILY HOME SALES
Thursday, Oct. 30, 10:00 a.m.EST -- Sales of new single-family homes in
September are expected to have risen to an annual rate of 810,000, based on the
MMS survey, up from 800,000 in August. Mortgage rates are lower than they were
in April, and mortgage applications continue to rise.
GROSS DOMESTIC PRODUCT
Friday, Oct. 31, 8:30 a.m.EST -- The Commerce Dept. will release its initial
estimate for third-quarter real gross domestic product. The MMS survey expects
real GDP to have risen 3.2%, after increasing 3.3% in the second quarter, 4.9%
in the first, and 4.3% in the fourth quarter of last year. Rapid growth in
consumer and capital spending are expected to lead the advance. Slower growth
in inventories and a widening of the trade gap provided the biggest drags. The
GDP price index is expected to have risen at an annual rate of 2%, after
increasing 1.8% in the second quarter. Looking ahead, the MMS poll sees
fourth-quarter real GDP rising a solid 3%.