The Week Ahead

PERSONAL INCOME
      Monday, Feb. 2, 8:30 a.m. EST -- Personal income likely rose 0.2% in December, 
      following a 0.8% jump in November, says the median forecast of economists 
      polled by MMS International, one of The McGraw-Hill Companies. Consumer 
      spending likely rose 0.5%, after a 0.4% advance in November.
      
      CONSTRUCTION SPENDING
      Monday, Feb. 2, 10 a.m. EST -- Building outlays probably rose 0.6% in December, 
      after falling 0.9% in November.
      
      NAPM SURVEY
      Monday, Feb. 2, 10 a.m. EST -- The National Association of Purchasing 
      Management's business index likely stood at 53% in January, little changed from 
      December's 53.1%.
      
      FOMC MEETING
      Tuesday, Feb. 3 -- The Federal Reserve's Open Market Committee will meet to set 
      monetary policy. The central bankers are not expected to change the federal 
      funds rate target from its current 5.5%. The meeting continues on Feb. 4.
      
      LEADING INDICATORS
      Tuesday, Feb. 3, 10 a.m. EST -- The MMS survey says that the Conference Board's 
      index of leading indicators probably edged up 0.1% in December, the same gain 
      posted in both October and November.
      
      NEW HOME SALES
      Tuesday, Feb. 3, 10 a.m. EST -- New homes likely sold at an annual rate of 
      825,000 in December, from 830,000 in November.
      
      EMPLOYMENT
      Friday, Feb. 6, 8:30 a.m. EST -- The MMS median forecast says that nonfarm 
      payrolls grew by 238,000 jobs in January, on top of the large 370,000 slots 
      created in December. The unemployment rate is expected to have remained at 
      December's 4.7%.
      
      INSTALLMENT CREDIT
      Friday, Feb. 6, 3 p.m. EST -- Consumer debt likely grew by $5 billion in 
      December, after dropping $4.2 billion in November.
      
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