The Week Ahead
NAPM SURVEY Monday, Dec. 1, 10 a.m. EST -- The National Association of Purchasing Management's index probably slipped to 55% in November, from 56% in October. That's the median forecast of economists surveyed by MMS International, one of The McGraw-Hill Companies. CONSTRUCTION SPENDING Monday, Dec. 1, 10 a.m. EST -- Building outlays likely increased 0.5% in October, after an unexpected drop of 1.1% in September. LEADING INDICATORS Tuesday, Dec. 2, 10 a.m. EST -- The Conference Board's composite index of leading indicators probably rose 0.2% in October, the same gain posted in September. NEW HOME SALES Wednesday, Dec. 3, 10 a.m. EST -- The MMS survey expects that new single-family homes sold at an annual rate of 800,000 in October, unchanged from September's high selling pace. BEIGE BOOK Wednesday, Dec. 3, 2 p.m. EST -- The Federal Reserve Board will release its report on how regional economies are doing. The Beige Book is prepared in advance of each Fed policy meeting. The next meeting will be on Dec. 16. EMPLOYMENT Friday, Dec. 5, 8:30 a.m. EST -- The MMS median forecast calls for a gain of 200,000 new nonfarm jobs in November, on top of the 284,000 created in October. The survey also expects that the jobless rate ticked back up to 4.8% last month, from October's 4.7%. But given the trends in labor-force and job growth, another drop in the rate would not be surprising. INSTALLMENT CREDIT Friday, Dec. 5, 3 p.m. EST -- Consumers likely added only $4 billion to their debt loads in October. In September, debt rose by just $2 billion. Consumers seem to be cutting back on their use of credit cards.
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