A look at some of the key business events and economic indicators upcoming this week:
Electric car maker
EYE ON CONSUMERS
The index slipped in November to 96.1 to the lowest level since August as a surge in coronavirus cases caused a big drop in consumer expectations for income, business and labor market conditions. Consumer confidence is closely watched for signals it can provide of how willing households are to spend. Consumer spending accounts for 70% of economic activity in the
Consumer confidence, by month:
July 91.7
Aug. 86.3
Sept. 101.3
Oct. 101.4
Nov. 96.1
Dec. (est.) 97.0
Source: FactSet
HOUSING MARKET BELLWETHER
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Sales of new homes accelerated this summer after the housing market stalled in the spring due to the pandemic. They have held steady this fall, reflecting strong demand for homes amid ultra-low mortgage rates and a pandemic-induced push to the suburbs. Economists project that sales fell last month to a seasonally adjusted annual rate of 987,000 units, down from 999,000 in October.
New home sales, seasonally adjusted annual rate, by month:
June 840,000
July 979,000
Aug. 1,001,000
Sept. 1,002,000
Oct. 999,000
Nov. (est.) 987,500
Source: FactSet
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