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The Week Ahead


Business Week Index

THE WEEK AHEAD

FEDERAL BUDGET

Monday, Feb. 24, 2 p.m.EST -- The U.S. Treasury is likely to report a surplus

of $16.8 billion for January, a bit lower than the $19.5 billion surplus of a

year earlier. That's the median forecast of economists surveyed by MMS

International, one of The McGraw-Hill Companies.

CONSUMER CONFIDENCE

Tuesday, Feb. 25, 10 a.m.EST -- The Conference Board's index of consumer

confidence probably fell to 115.8 in February, from a reading of 116.8 in

January. However, the high level of the February index would still show that

consumers are quite pleased with the economy's performance.

HUMPHREY-HAWKINS TESTIMONY

Wednesday, Feb. 26, 10 a.m.EST -- Federal Reserve Chairman Alan Greenspan is

scheduled to give his semiannual testimony on monetary policy to the Senate

Banking Committee. Greenspan will report the Fed's central-tendency forecasts

for economic growth, inflation, unemployment, and money-supply growth for 1997.

Greenspan will testify to the House Banking Committee on Feb. 27.

DURABLE GOODS ORDERS

Thursday, Feb. 27, 8:30 a.m.EST -- New orders for durable goods likely

increased 1% in January. That follows two steep declines, including a 1.9% drop

in December.

EXISTING HOME SALES

Thursday, Feb. 27, 10 a.m.EST -- The MMS median forecast projects existing

homes probably sold at an annual rate of 3.9 million in January, about even

with the 3.87 million sold in December.

GROSS DOMESTIC PRODUCT

Friday, Feb. 28, 8:30 a.m.EST -- Real GDP probably grew at a revised annual

rate of 4.4% in the fourth quarter, says the MMS forecast. That's slightly down

from the 4.7% gain initially reported by the Commerce Dept., but still faster

than the 2.1% increase in the third quarter. The revision will likely show that

inventories grew slower than first thought.


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