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The Week Ahead


BUSINESS OUTLOOK

THE WEEK AHEAD

NEW SINGLE-FAMILY HOME SALES

Monday, Aug. 30, 10 a.m.

New homes probably sold at a 670,000 annual rate in July, down slightly from June's 678,000 clip, forecast economists surveyed by McGraw-Hill Inc.'s MMS International.

GROSS DOMESTIC PRODUCT (REVISION)

Tuesday, Aug. 31, 8:30 a.m.

The Commerce Dept.'s second look at second-quarter GDP will probably show that the economy grew at only a 1.2% annual rate, even slower than the previously reported 1.6% pace. Foreign trade is the culprit. In addition, Commerce will report its annual revision to the GDP data of the last three years. That may show that first-quarter growth was better than the current estimate of 0.7%.

CONSTRUCTION SPENDING

Wednesday, Sept. 1, 10 a.m.

Building spending likely rose by 0.3% in July, after a large 1.2% advance in June.

PERSONAL INCOME

Wednesday, Sept. 1, 10 a.m.

Both consumer income and spending rose by 0.3% in July. Income was unchanged in June, but outlays grew 0.6%.

NAPM SURVEY

Wednesday, Sept. 1, 10 a.m.

The National Association of Purchasing Management's August index of business activity rose to 50% from 49.5% in July.

FACTORY INVENTORIES

Thursday, Sept. 2, 10 a.m.

Factory inventories probably increased 0.2% in July, after falling 0.1% in June.

LEADING INDICATORS

Friday, Sept. 3, 8:30 a.m.

The July index of leading indicators was likely unchanged. It rose 0.1% in June.

EMPLOYMENT

Friday, Sept. 3, 8:30 a.m.

The MMS economists expect that nonfarm payrolls rose by 150,000 in August, on top of the 162,000 new jobs created in July. Even so, the August unemployment rate is projected to edge up to 6.9% from 6.8% in July.JAMES C. COOPER AND KATHLEEN MADIGAN


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