The Week Ahead
PERSONAL INCOME Monday, Sept. 30, 8:30 a.m.EDT -- Personal income likely increased by a solid 0.5% in August, while consumer spending probably rose 0.4%. Those are the median forecasts of economists polled by MMS International, one of The McGraw-Hill Companies. The income gain is suggested by rises in weekly pay and jobs in August. In July, income edged up just 0.1%, while spending advanced 0.2%. NEW HOME SALES Monday, Sept. 30, 10 a.m.EDT -- New houses likely sold at an annual rate of 750,000 in August, after a surprising 7.9% jump, to a 783,000 rate, in July. LEADING INDICATORS Tuesday, Oct. 1, 8:30 a.m.EDT -- The MMS survey expects that the Conference Board's index of leading indicators rose 0.2% in August, the seventh straight gain. The index also advanced 0.2% in July. NAPM SURVEY Tuesday, Oct. 1, 10 a.m.EDT -- The National Association of Purchasing Management's business index likely stood at 53% in September, up from 52.6% in August. CONSTRUCTION SPENDING Wednesday, Oct. 2, 10 a.m.EDT -- Spending on construction projects probably rose 0.5% in August, after falling 1.4% in July. FACTORY INVENTORIES Thursday, Oct. 3, 10 a.m.EDT -- Factory inventories likely grew by 0.2% in August, the same small gain as in July. EMPLOYMENT Friday, Oct. 4, 8:30 a.m.EDT -- The MMS median forecast calls for a gain of 182,000 nonfarm jobs in September. That's down from 250,000 in August, but that total was pumped up by a large gain in teaching positions. The unemployment rate is forecast to jump back to 5.3%, up from 5.1% in August. And the average nonfarm hourly wage probably rose 0.3% in September. If so, yearly pay growth would slip down to 3.3%, from August's rapid 3.6% pace.
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