A look at some of the key business events and economic indicators upcoming this week:
RETAIL WOES
WANING CONFIDENCE
A gauge of
Economists project that the Conference Board’s consumer confidence index slipped to 98.7 this month. It fell to 100.9 in October as a new wave of coronavirus cases appeared across the country. A reading of 90 or better reflects a healthy economy. Still, the index remains well below pre-pandemic levels.
Consumer confidence, by month:
June 98.3
July 91.7
Aug. 86.3
Sept. 101.3
Oct. 100.9
Nov. (est.) 98.7
Source: FactSet
EYE ON HOUSING
The
Sales have been climbing this year after a pause in March and April due to coronavirus lockdowns. Ultra-low mortgage rates and a dearth of resale properties for sale have helped drive demand for newly built homes. Sales pulled back in September to a seasonally adjusted annual rate of 959,000 units. Economists expect sales rebounded in October to a seasonally adjusted annual rate of 968,000.
New home sales, seasonally adjusted annual rate, by month:
May 698,000
June 840,000
July 965,000
Aug. 994,000
Sept. 959,000
Oct. (est.) 968,000
Source: FactSet
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