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BusinessWeek: January 11, 1993 |
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Business Outlook
THE WEEK AHEAD Monday, Jan. 4, 10 a.m. The National Association of Purchasing Management's index of business activity probably rose to 56% in December, say economists surveyed by mms International, a division of McGraw-Hill Inc. The napm index stood at 55% in November, its highest level in six months. That reading was an indication that the factory sector was expanding once again. Gains in production and orders led the November increase. CONSTRUCTION SPENDING Monday, Jan. 4, 10 a.m. Outlays for building projects likely rose by 0.4% in November, reports the mms survey. A good gain in housing starts for the month, however, suggests that the increase in construction spending may have been stronger. In fact, building activity lately has been much healthier than expected, only in part because of rebuilding from the late-summer hurricanes. Spending rose 1.8% in September and 1% in October. EMPLOYMENT Friday, Jan. 8, 8:30 a.m. The mms economists expect that nonfarm payrolls grew by 85,000 jobs in December, on top of a 105,000 gain in November. The most optimistic forecast calls for a 150,000 jump in new workers. Many of the November jobs came from temporary hiring of election workers by state and local governments. Last month's increase was likely concentrated in retail hiring for the holiday season. Factory jobs are expected to have risen by only 10,000 last month, after a slim 35,000 increase in November. The jobless rate for December was probably unchanged from November's 7.2%. CONSUMER CREDIT Friday, Jan. 8 Consumers likely added about $1 billion more to their debt loads than they paid off in November. Revolving credit, which includes credit cards, should account for most of the gain. That's suggested by a rise in retail buying in November. In October, installment debt grew by only $214 million. | |
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