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Business Week Index
THE WEEK AHEAD
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.
NEW HOME SALES
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.