The Week Ahead
PERSONAL INCOME Monday, Oct. 31, 8:30 a.m. Personal income probably increased by 0.6% in September, according to the median forecast of economists surveyed by MMS International, a unit of McGraw-Hill Inc. The solid gain is suggested by rising weekly pay and jobs for the month. Income rose 0.4% in August. Healthy retail sales suggest that consumer spending likely advanced by 0.4% in September, after jumping 0.9% in August. CONSTRUCTION SPENDING Tuesday, Nov. 1, 8:30 a.m. The MMS economists expect that outlays for construction projects likely rebounded by 0.5% in September, helped by higher housing starts. Spending was flat in July and fell 0.2% in August. NAPM SURVEY Tuesday, Nov. 1, 10 a.m. The National Association of Purchasing Management's business index was probably little changed in October, at 58.5%, from September's 58.2%. Wednesday, Nov. 2, 8:30 a.m. The index of leading indicators likely edged up 0.1% in September. The index rose 0.6% in August. FACTORY INVENTORIES Wednesday, Nov. 2, 10 a.m. Manufacturers' inventories were probably flat in September, after rising just 0.1% in August. That's suggested by the weakness in factory output in September. NEW HOME SALES Thursday, Nov. 3, 10 a.m. New single-family homes likely sold at an annual rate of 675,000 in September, up from August's 703,000 pace. EMPLOYMENT Friday, Nov. 4, 8:30 a.m. The MMS survey forecasts that nonfarm payrolls rose by 240,000 in October, about the same sturdy gain as in September. The jobless rate likely stayed at September's low 5.9%, a rate considered close to full employment.
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