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The Week Ahead

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Wednesday, Mar. 25, 8:30 a.m. EST -- New orders taken by durable goods

manufacturers likely increased by 0.7% in February, says the median forecast of

economists surveyed by Standard & Poor's MMS, one of The McGraw-Hill Companies.

Orders had risen 1.6% in January, but that followed a 5.3% plunge in December,

caused mostly by falling demand for aircraft. The increase in new orders

suggests that the backlog of unfilled orders also rose.


Wednesday, Mar. 25, 10 a.m. EST -- Existing homes probably sold at an annual

rate of 4.44 million in February, the same high rate as in January. If so, home

resales in the first quarter are running well above the sales rate of the

fourth quarter, suggesting that household purchases of furniture, electronics,

and textiles will increase in coming months. Unseasonably mild weather in parts

of the country, coupled with low mortgage rates, buoyed home buying.


Thursday, Mar. 26, 8:30 a.m. EST -- New filings for state unemployment benefits

likely stood at 320,000 in the week ended Mar. 21. Claims slipped below the

300,000 mark in the first week of March, to the lowest level since July, 1997.

The jobless rate dipped to a 24-year low of 4.6% in February, and the drop in

claims suggests that labor markets tightened further in March.


Friday, Mar. 27, 8:30 a.m. EST -- Personal income likely increased another 0.5%

in February, on top of the 0.6% gain posted in January. That's indicated by the

strong advance in jobs and wages for the month. Consumer spending likely rose

0.5% in February. In addition, the revision to January retail sales, from a

0.1% increase to a 1% jump, suggests that the 0.4% gain in January consumer

spending will also be revised higher. Real consumer spending is on track to

grow at an annual rate of about 5% in the first quarter.

Race, Class, and the Future of Ferguson

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