The Week Ahead
NEW HOME SALES Monday, Aug. 29, 10 a.m. -- New houses probably sold at an annual rate of 700,000 in July, says the median forecast of economists surveyed by MMS International, one of The McGraw-Hill Cos. Sales in June rose 6.1%, to a 728,000 pace. CONSUMER CONFIDENCE Tuesday, Aug. 29, 10 a.m. -- The Conference Board's confidence index likely rose to 100.5 in August, up from July's 99.9. GROSS DOMESTIC PRODUCT Wednesday, Aug. 30, 8:30 a.m. -- According to the MMS survey, the Commerce Dept.'s second look at the second-quarter gross domestic product data will probably show no revision to the 0.5% annual rate of growth originally reported. The economy grew at a 2.7% pace in the first quarter. PERSONAL INCOME Thursday, Aug. 31, 8:30 a.m. -- Personal income likely increased 0.5% in July, on top of a 0.4% gain in June. That's suggested by the jump in nonfarm weekly pay. Consumer spending probably edged up 0.3% in July. June outlays rose 0.2%. LEADING INDICATORS Friday, Sept. 1, 8:30 a.m. -- The composite index of leading indicators likely rose 0.1% in July, after a 0.2% gain in June. EMPLOYMENT Friday, Sept. 1, 8:30 a.m. -- The MMS median forecast is that nonfarm payrolls grew by 155,000 in August, after just 55,000 jobs were added in July. The August unemployment rate likely rose to 5.7%, from 5.6%. CONSTRUCTION SPENDING Friday, Sept. 1, 8:30 a.m. -- Building outlays probably rose 0.5% in July, says the MMS report. Spending in June jumped 0.9%. NAPM SURVEY Friday, Sept. 1, 10 a.m. -- The National Association of Purchasing Management's business index probably stood at 51.5% in August, up from 50.5% in July.
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