Global Economy Week Ahead: U.S. Housing Starts, Consumer Sentiment
18 November 2018 - 8:29PM
Dow Jones News
By Sarah Chaney
In the week ahead, the U.S. will see fresh data on housing
starts, durable goods, existing-home sales and consumer
sentiment.
TUESDAY
The Commerce Department releases data on October housing starts
and permits. In September, starts fell 5.3%, while permits also
declined. Builders appear to be taking a cautious stance given weak
sales of new homes. Economists surveyed by The Wall Street Journal
forecast housing starts rose 1.6% in October.
WEDNESDAY
The Commerce Department releases data on October durable goods
orders. In September, demand for long-lasting goods produced by
U.S. factories surged 0.7% on military-aircraft orders. A key gauge
of business investment, new orders for nondefense capital goods
excluding aircraft, fell 0.1% in September. Economists surveyed by
the Journal expect durable-goods orders fell 2.2% in October.
The National Association of Realtors releases October data on
existing-home sales. Sales of previously owned U.S. homes fell 3.4%
in September from the previous month to a seasonally adjusted
annual rate of 5.15 million, the National Association of Realtors
said. Sales were down 4.1% from a year earlier, the seventh
straight month of declines -- marking the longest slump since 2014,
when the market was still recovering from the housing crash.
Economists surveyed by the Journal forecast home sales increased
0.8% to a 5.19 million annual rate.
The University of Michigan releases November consumer-sentiment
data. In its preliminary November report, the University of
Michigan said its consumer-sentiment index was 98.3, down slightly
from 98.6 in October. Economists surveyed by the Journal forecast
the consumer-sentiment index clocked in at 98.3 in the final
November reading.
Write to Sarah Chaney at sarah.chaney@wsj.com
(END) Dow Jones Newswires
November 18, 2018 15:14 ET (20:14 GMT)
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