The Week Ahead
Monday, Nov. 22, 2 p.m.EST -- The U.S. Treasury Dept. is expected to report a deficit of $27.5 billion in October, the first month for fiscal 2000, according to the median forecast of economists surveyed by Standard & Poor's MMS, a unit of The McGraw-Hill Companies. In October, 1998, the deficit was $32.4 billion. For fiscal 1999, the budget rang up a surplus of $122.7 billion.
Tuesday, Nov. 23, 8:30 a.m.EST -- New orders taken by durable-goods makers probably edged up 0.5% in October. That follows a drop of 1.3% in September. In general, however, manufacturers are benefiting from the pick-up in foreign demand as well as some inventory rebuilding.
GROSS DOMESTIC PRODUCT
Wednesday, Nov. 24, 8:30 a.m.EST -- The S&P MMS median forecast expects that the first revision to the third-quarter economy will show that growth remained at a strong annual rate of 4.8%. In the second quarter, real GDP grew at a 1.9% pace, dragged down by a severe widening in the trade deficit. Corporate aftertax profits in the third quarter probably increased 4% from a year ago, after rising 7.8% in the second quarter.
Friday, Nov. 26, 8:30 a.m.EST -- Personal income likely increased 0.5% in October, while consumer spending advanced 0.3%. In September, earnings were flat from August, while household spending was up 0.4%. Thanks in part to a drop in the purchases of motor vehicles, the consumer sector shows signs of slowing. That's good news for policymakers who want to see the overall economy cool down.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.