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The Week Ahead

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Tuesday, Jan. 23, 8:30 a.m. -- Personal income probably rose 0.5% in October

and 0.3% in November. That was the median forecast of economists surveyed by

MMS International. Income rose 0.4% in September. Consumer spending was likely

flat in October and up 0.6% in November. That's suggested by the monthly

changes in retail sales. Spending edged up 0.2% in September. The government

shutdown delayed release of the income report for two months. In addition, the

monthly report will begin to state inflation-adjusted income and spending on a

chain-weighted basis to conform with data in the gross domestic product release.


Tuesday, Jan. 23, 10 a.m. -- Though usually a second-tier data series, this

report on wholesale inventories and sales in November will be scrutinized

because it will be one of the first looks at the inventory adjustment process

in the middle of the fourth quarter. Wholesale inventories rose a large 0.7% in

October, while sales fell 0.4%.


Wednesday, Jan. 24, 9:15 a.m. -- Output at the nation's factories, mines, and

utilities probably rose 0.2% in December, says the MMS report. The National

Association of Purchasing Management's report on industrial activity showed

that output fell last month. The cold weather through much of the country,

though, may have sharply pushed up utility output. Production increased 0.2% in

November. Operating rates probably edged up to 83.2%, from 83.1% in November.


Wednesday, Jan. 24, 10 a.m. -- New single-family homes likely sold at an annual

rate of 660,000 in November, down from a 673,000 pace in October. That's

suggested by the already reported 1.7% decline in existing homes for November

as well as the recent flat trend in mortgage applications to buy a home.

American Apparel's Future

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