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Business Week Index
THE WEEK AHEAD
EXISTING HOME SALES
Monday, Aug. 25, 10 a.m.EDT Copyright Existing homes probably sold at an
annual rate of 4.16 million in July, slightly higher than the 4.14 million rate
in June. That's the median forecast of economists surveyed by MMS
International, one of The McGraw-Hill Companies. Housing remains a strong
sector: Home prices are rising, mortgage rates are affordable, and mortgage
applications to purchase a home are on the rise.
DURABLE GOODS ORDERS
Tuesday, Aug. 26, 8:30 a.m.EDT Copyright The MMS survey expects that new
orders taken by durable-goods manufacturers likely increased 0.5% in July, on
top of a 2.3% jump in June. A gain in machinery demand offset weakness in the
Tuesday, Aug. 26, 10 a.m.EDT Copyright The Conference Board's index of
consumer confidence probably stood at 126.5 in August, unchanged from July's
reading. Confidence has soared this year, lifted by the strong job market and
rising stock prices.
GROSS DOMESTIC PRODUCT
Thursday, Aug. 28, 8:30 a.m.EDT Copyright The MMS survey forecasts that
revisions to the data will show the economy grew at an annual rate of 2.5% in
the second quarter, a bit better than the 2.2% initially reported. However, a
narrowing in the June trade gap suggests that the revision could be larger.
Friday, Aug. 29, 8:30 a.m.EDT Copyright Personal income likely increased
just 0.2% in July, after a steep 0.6% gain in June. That's suggested by smaller
weekly paychecks in July. Consumer spending, however, probably rose a solid
0.6% in July, twice the gain in June. Retail sales were up strongly in July,
and demand for energy was also higher.
NEW HOME SALES
Friday, Aug. 29, 10 a.m.EDT Copyright New single-family homes likely sold
at an annual rate of 805,000 in July, up from 800,000 in June.