The Week Ahead
PERSONAL INCOME Monday, Mar. 2, 8:30 a.m. EST -- Incomes likely grew 0.6% in January, while consumer spending rose 0.3%, says the median forecast of economists polled by Standard & Poor's MMS International, a unit of The McGraw-Hill Companies. In December, income rose 0.4%, and spending was up 0.3%. CONSTRUCTION SPENDING Monday, Mar. 2, 10 a.m. EST -- Building spending probably rose 0.5% in January, after a small 0.1% advance in December. NAPM SURVEY Monday, Mar. 2, 10 a.m. EST -- The National Association of Purchasing Management's index in February most likely was unchanged from January's 52.4% reading. NEW SINGLE-FAMILY HOME SALES Tuesday, Mar. 3, 10 a.m. EST -- New homes probably sold at an annual rate of 802,000 in January, up from 777,000 in December. LEADING INDICATORS Tuesday, Mar. 3, 10 a.m. EST -- The Conference Board's index of leading indicators is likely to have increased 0.1% in January, after no gain in December. FACTORY INVENTORIES Thursday, Mar. 5, 10 a.m. EST -- Inventories probably fell 0.2% in January, after slipping 0.1% in December. Factory output rose only modestly in January. EMPLOYMENT Friday, Mar. 6, 8:30 a.m. EST -- The MMS forecast expects that nonfarm payrolls grew by 250,000 in February, on top of a surprisingly large gain of 358,000 in January. The strong demand for labor is suggested by the low level of jobless claims. The jobless rate most likely remained at 4.7%. INSTALLMENT CREDIT Friday, Mar. 6, 3 p.m. EST -- Consumers probably added a modest $5 billion in new debt in January, after borrowing an extra $3.9 billion in December.
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