Business Week Index
THE WEEK AHEAD
Monday, Nov. 24, 2 p.m. EST -- The Treasury Dept. is likely to report a deficit
of $35 billion for October, the first month of fiscal 1998. That's the median
forecast of economists surveyed by MMS International, one of The McGraw-Hill
Companies. In October, 1996, Washington posted a $39.8 billion debt as the
federal deficit totaled $22.6 billion for all of fiscal 1997, the lowest budget
gap in 23 years.
Tuesday, Nov. 25, 10 a.m. EST -- The Conference Board's index of consumer
confidence likely stood at 123 for November. The reading would be little
changed from October's 123.3, suggesting that the turmoil in the global
financial markets has not caused households to worry. Consumers are probably
concentrating more on the bright outlook for job prospects.
REAL GROSS DOMESTIC PRODUCT
Wednesday, Nov. 26, 8:30 a.m.EST -- The MMS median forecast expects that the
Commerce Dept. will report that the third-quarter economy grew at an annual
rate of 3.5%, unchanged from the initial estimate of a month ago. Real gross
domestic product grew at a 3.3% pace in the second quarter. Aftertax corporate
profits likely rose 2.1% in the third quarter over the second, when they grew
DURABLE GOODS ORDERS
Wednesday, Nov. 26, 8:30 a.m. EST -- New orders taken by durable goods
manufacturers likely increased 0.5% in October, on top of a 0.1% gain in
September and a 2.5% surge in August.
Friday, Nov. 28, 8:30 a.m. EST -- Personal income probably increased a solid
0.5% in October, says the MMS survey, after a 0.4% advance in September. The
October gain is suggested by the strong growth in payrolls and hourly earnings.
Consumer spending likely rose 0.3%, after gaining 0.2% in September. The small
increase is suggested by the weakness in retail sales.