The Week Ahead
EXISTING HOME SALES Monday, Nov. 27, 8:45 a.m. -- Existing homes probably sold at an annual rate of 3.9 million in October, after rising 0.7% in September, to a 4.15 million pace. HOUSING STARTS Tuesday, Nov. 28, 8:30 a.m. -- Housing starts in October probably stood at an annual rate of 1.4 million, unchanged from September's level. That's according to the median forecast of economists surveyed by MMS International, a division of The McGraw-Hill Companies. The October housing release was originally scheduled for Nov. 17, but was delayed because of the government shutdown. CONSUMER CONFIDENCE Tuesday, Nov. 28, 10 a.m. -- The Conference Board's index of consumer confidence likely slipped to 96.4 in November from 97 in October, projects the MMS report. That would be the index's third decline in a row. And a deterioration in consumers' optimism about the economy and job prospects does not bode well for holiday shopping. DURABLE GOODS ORDERS Thursday, Nov. 30, 8:30 a.m. -- New orders taken by durable-goods manufacturers probably fell 1.5% in October. That's suggested by the drop in output of durable goods for the month. The expected decline follows two big gains in orders, including a 2.9% rise in September. With consumer demand losing steam, however, manufacturers are cutting back output. NAPM SURVEY Friday, Dec. 1, 10 a.m. -- The MMS survey forecasts that the National Association of Purchasing Management's business index probably rose to 48% in November, from 46.8% in October. Despite the increase, the NAPM index would still be below the 50% line that divides expansion and recession for the industrial sector. Note: As a result of the government shutdown, many economic releases have been rescheduled.
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