A look at some of the key business events and economic indicators upcoming this week
RETAILER CHECKUP
The Commerce Department delivers its December snapshot of U.S. retail sales Wednesday.
Economists expect that holiday spending helped boost purchases at retailers 0.4% last month from November. That would follow a 0.3% rise in November. American consumers, a huge engine for economic growth in the U.S., hit the stores, shopped online, went out to restaurants or traveled for much of last year, despite elevated prices.
Retail sales, monthly percent change, seasonally adjusted:
July 0.6
Aug. 0.7
Sept. 0.8
Oct. -0.2
Nov. 0.3
Dec. (est.) 0.4
Source: FactSet
TRACKING HOME CONSTRUCTION
New government data on residential construction should provide insight into the state of the new-home market.
The Commerce Department is expected to report Thursday that builders broke ground on new apartments and single-family homes last month at a seasonally adjusted annual rate of about 1.43 million units. That would represent a pullback from November, when housing starts surged by nearly 15% from October to the highest level in six months.
Housing starts, monthly, seasonally adjusted annual rate:
July 1,451,000
Aug. 1,305,000
Sept. 1,356,000
Oct. 1,359,000
Nov. 1,560,000
Dec. (est.) 1,433,000
Source: FactSet
HOUSING MARKET BAROMETER
The National Association of Realtors releases its December tally of U.S. home sales Friday.
Analysts forecast that the pace of sales of previously occupied U.S. homes held steady last month with November’s annual rate of 3.82 million homes. Sales edged higher in November, ending a five-month skid, as easing mortgage rates provided some breathing room for prospective homebuyers. Still, sales are being held back by a persistent dearth of homes on the market.
Existing home sales, in millions, seasonally adjusted annual rate:
July 4.07
Aug. 4.04
Sept. 3.95
Oct. 3.79
Nov. 3.82
Dec. (est.) 3.82
Source: FactSet
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