The Week Ahead
EMPLOYMENT COSTS Tuesday, Oct. 29, 8:30 a.m.EST -- Labor costs rose 0.8% in the third quarter, the same gain as in the second, says the median forecast of economists polled by MMS International, one of The McGraw-Hill Companies. CONSUMER CONFIDENCE Tuesday, Oct. 29, 10 a.m.EST -- The Conference Board's confidence index likely hit 112 in October, from 111.8 in September. REAL GROSS DOMESTIC PRODUCT Wednesday, Oct. 30, 8:30 a.m.EST -- The MMS survey expects that real GDP grew at a 2.1% annual rate in the third quarter, less than half the 4.7% surge in the second. NEW SINGLE-FAMILY HOME SALES Wednesday, Oct. 30, 10 a.m.EST -- New homes likely sold at an annual rate of 775,000 in September, a big drop from August's surprisingly strong 832,000 pace. BEIGE BOOK Wednesday, Oct. 30, noonEST -- The Federal Reserve's roundup of economic reports from its 12 districts will give a summary of October business activity in advance of the Fed's Nov. 13 policy meeting. PERSONAL INCOME Thursday, Oct. 31, 8:30 a.m.EST -- Personal income probably rose 0.5% in September, after a 0.6% advance in August. September consumer spending likely rose 0.4%, on top of a 0.6% rise in August. EMPLOYMENT Friday, Nov. 1, 8:30 a.m.EST -- The MMS median forecast calls for a gain of 188,000 nonfarm jobs in October, after payrolls dipped 40,000 in September. The unemployment rate likely remained at 5.2%, and hourly wages probably increased 0.3% in October, after a 0.5% rise in September. NAPM SURVEY Friday, Nov. 1, 10 a.m.EST -- The National Association of Purchasing Management's business index likely slipped to 51.5% in October, from 51.7% in September.
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