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.


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.

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