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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