The Week Ahead

EXISTING-HOME SALES
      Monday, Nov. 25, 10 a.m.EST -- Sales of existing homes likely dropped to an 
      annual rate of 3.9 million in October. That would mean that existing-home sales 
      have fallen for five months in a row. Resales declined 2.9% in September, to a 
      4.02 million pace.
      
      CONSUMER CONFIDENCE
      Tuesday, Nov. 26, 10 a.m.EST -- The Conference Board's index of consumer 
      confidence probably increased to 107.4 in November, according to the median 
      forecast of economists surveyed by MMS International, one of The McGraw-Hill 
      Companies. The confidence index fell in October, to 106.2 from 111.8 in 
      September. But the level is still quite high, thanks in part to solid job 
      growth.
      
      GROSS DOMESTIC PRODUCT
      Wednesday, Nov. 27, 8:30 a.m.EST -- The MMS economists expect that even after 
      revising data for the GDP components, the Commerce Dept. will report no change 
      in its initial calculation that the overall economy grew at an annual rate of 
      2.2% in the third quarter. However, final demand likely contributed more to 
      growth last quarter than was first thought, and inventory accumulation will be 
      revised down. The MMS median forecast also expects that aftertax corporate 
      profits edged up 0.7% in the third quarter. If so, earnings would be about 7% 
      above their year-ago level. That increase is down from the 8.7% yearly gain in 
      the second quarter.
      
      DURABLE GOODS ORDERS
      Wednesday, Nov. 27, 10 a.m.EST  -- New orders for durable goods likely fell 1% 
      in October. September bookings jumped 4.9%, but much of that came from aircraft 
      orders.
      
      PERSONAL INCOME
      Friday, Nov. 29, 8:30 a.m.EST  -- Personal income probably increased a mere 
      0.1% in October after a strong 0.6% advance in September, says the median MMS 
      forecast. Consumer spending likely rose 0.3% last month, on top of a 0.1% gain 
      in September.
      
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