The Week Ahead
PERSONAL INCOME Monday, Feb. 3, 8:30 a.m.EST -- Personal income likely jumped 0.7% in December, while spending was up 0.5%. Those are the median forecasts of economists surveyed by MMS International, one of The McGraw-Hill Companies. Both income and spending rose 0.5% in November. CONSTRUCTION SPENDING Monday, Feb. 3, 10 a.m.EST -- Building outlays likely declined by 0.4% in December, after a huge 1.9% advance in November. NAPM SURVEY Monday, Feb. 3, 10 a.m.EST -- The National Association of Purchasing Management's index probably dipped to 53.5% in January, from 53.8% in December. A reading above 50% indicates the factory sector is growing. FOMC MEETING Tuesday, Feb. 4 -- The Federal Open Market Committee of the Federal Reserve will meet to set monetary policy. The MMS expectation is that the policymakers will leave short-term interest rates unchanged. The meeting continues on Feb. 5. LEADING INDICATORS Tuesday, Feb. 4, 10 a.m.EST -- The Conference Board's index of leading indicators likely rose 0.2% in December, on top of a 0.1% increase in November. FACTORY INVENTORIES Wednesday, Feb. 5, 10 a.m.EST -- Factory inventories probably rose 0.4% in December, the same gain reported in November. EMPLOYMENT Friday, Feb. 7, 8:30 a.m.EST -- The MMS median forecast calls for a rise of 188,000 nonfarm jobs in January. That follows a 262,000 surge in December. The jobless rate probably remained at December's 5.3%. INSTALLMENT CREDIT Friday, Feb. 7, 3 p.m.EST -- Consumers probably added $6.5 billion in new debt in December, a bit less than the $7.4 billion in new borrowings in November.
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