Business Outlook

THE WEEK AHEAD

CONSTRUCTION SPENDING

Wednesday, Dec. 1, 8:30 a.m.

Construction outlays likely rose 1% in October, after a 0.8% gain in September, according to economists polled by McGraw-Hill Inc.'s MMS International.

GROSS DOMESTIC PRODUCT REVISION

Wednesday, Dec. 1, 8:30 a.m.

The Commerce Dept.'s revisions to the third-quarter economy will likely show that real GDP grew at a 2.9% annual rate, says the MMS survey. That's not much different from the 2.8% first reported, but second-quarter growth was only 1.9%. Aftertax corporate profits are expected to have risen 1.5% last quarter, as huge flood-related losses in the insurance industry offset gains elsewhere.

NAPM SURVEY

Wednesday, Dec. 1, 10 a.m.

The purchasers' index of the National Association of Purchasing Management likely stood at 54.5% in November, up from October's reading of 53.8%.

NEW SINGLE-FAMILY HOME SALES

Thursday, Dec. 2, 10 a.m.

New homes likely sold at a 700,000 annual rate in October, a good showing after September's strong 762,000 rate.

PERSONAL INCOME

Thursday, Dec. 2, 10 a.m.

Personal income probably increased 0.6% in October, and consumer spending advanced 0.8%. The consumer sector in October was much stronger than in September, when income was up 0.2%, and spending rose 0.3%.

LEADING INDICATORS

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

The index of leading indicators likely rose 0.6% in October, the sixth gain in a row. The index has been revised by Commerce to track the economy better.

EMPLOYMENT

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

Nonfarm payrolls probably increased 175,000 in November, about the same as in October, say MMS economists. The jobless rate is forecast to dip to 6.7% in November, from 6.8% in October.JAMES C. COOPER AND KATHLEEN MADIGAN