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Business Week Index: The Week Ahead


Business Week Index: THE WEEK AHEAD

BusinessWeek Index: THE WEEK AHEAD

FEDERAL BUDGET

Tuesday, Jan. 24

The U.S. Treasury will likely report a deficit of $4 billion for December, says

the median forecast of economists surveyed by MMS International, a division of

McGraw-Hill Inc. Quarterly income tax payments are due in December, but the

government had to send out January Social Security payments early because Jan.

1 was the New Year's holiday. In December, 1993, Washington chalked up a

deficit of $7.7 billion. The nonpartisan Congressional Budget Office recently

projected that the federal deficit for fiscal 1995, which began in October,

will total $176 billion. In 1994, the government's deficit was $203.4 billion.

EXISTING HOME SALES

Wednesday, Jan. 25, 9:45 a.m.

Sales of existing homes likely fell to an annual rate of 3.76 million in

December. If so, that would be the fourth drop in five months. In November,

resales fell 2.6%, to 3.81 million.

DURABLE GOODS ORDERS

Thursday, Jan. 26, 8:30 a.m.

The MMS median forecast is that new orders for durable goods in December were

little changed from their November level. In that month, increased bookings for

aircraft and motor vehicles led to a solid 3.4% gain in total new orders.

Unfilled orders probably dropped last month, after rising a small 0.6% in

November.

GROSS DOMESTIC PRODUCT

Friday, Jan. 27, 8:30 a.m.

Real GDP likely grew at an annual rate of 4.3% in the fourth quarter of 1994,

says the MMS report. Thanks to strong job and income growth, consumers

continued to increase their spending at a pace exceeding 4%. Business

investment in equipment and nonresidential construction also probably added to

growth at yearend. The fourth quarter would mark the third straight quarter

that the U.S. economy grew by 4% or more. In the third period, real GDP

expanded at a pace of 4%. Inflation, as measured by the GDP price deflator, is

expected at an annual rate of 2.2% in the fourth quarter, about the same rate

as in the third quarter.


Later, Baby
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