The Week Ahead
PERSONAL INCOME Monday, Oct. 2, 8:30 a.m. -- Personal income likely grew by 0.1% in August, according to the median forecast of economists surveyed by MMS International, one of The McGraw-Hill Companies. Consumer spending probably rose a larger 0.5%, led by strong motor-vehicle sales. Incomes rose 0.7% and spending was up 0.2% in July. NAPM SURVEY Monday, Oct. 2, 10 a.m. -- The National Association of Purchasing Management's index likely stood at 50% in September, up from a weak 46.9% level in August. The expected reading would imply that the factory sector is just treading water. CONSTRUCTION SPENDING Monday, Oct. 2, 10 a.m. -- Building outlays probably increased a solid 0.5% in August. That's suggested by healthy housing activity and a rebound in nonresidential projects. Spending jumped 2% in July. LEADING INDICATORS Wednesday, Oct. 4, 8:30 a.m. -- The government's composite index of leading indicators likely rose 0.1% in August, after falling 0.2% in July, says the MMS survey. FACTORY INVENTORIES Wednesday, Oct. 4, 10 a.m. -- Manufacturing inventories probably increased by 0.4% in August, after leaping 0.6% in July. The August rise is suggested by the month's 1% gain in factory output. EMPLOYMENT Friday, Oct. 6, 8:30 a.m. -- Nonfarm payrolls in September grew by 160,000 slots, according to the median MMS forecast. Almost 250,000 jobs were created in August. Factories likely added 10,000 new workers in September, on top of the 12,000 hired in August. The unemployment rate probably remained at 5.6% last month. INSTALLMENT CREDIT Friday, Oct. 6 -- Consumers probably added $10 billion in new credit in August, on top of $8.8 billion taken on in July.
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