By Sarah Chaney

In the week ahead, the U.S. will see data on durable-goods orders, third-quarter gross domestic product and consumer sentiment. Europe will receive data on manufacturing and services.

WEDNESDAY

A survey of purchasing managers at businesses across the eurozone is expected to record a further, slight slowdown in activity in October. If the composite PMI suffers the expected decline to 53.9 from 54.1, it will nevertheless indicate that the economy has continued to grow at a pace roughly in line with the European Central Bank's estimate of its speed limit, and is therefore unlikely to persuade policy makers to rethink plans to end their bond-buying program in December.

The Federal Reserve releases the beige book report, a roundup of anecdotal information about regional economic conditions. In recent beige book reports, companies have expressed concerns about tariffs, with some saying they are holding back on investment plans due to uncertainty.

THURSDAY

The Commerce Department releases September data on durable-goods orders. In August, demand for long-lasting goods produced by U.S. factories took off. But an underlying measure of business investment, nondefense capital goods excluding aircraft, fell. Economists will scour the report for evidence of whether the tax overhaul is helping boost investment. Economists surveyed by The Wall Street Journal forecast durable goods orders fell 1.9% in September.

FRIDAY

The Commerce Department releases third-quarter gross domestic product data. In the second quarter, GDP rose at a 4.2% seasonally adjusted annual rate, powered by gains in consumer spending, net exports and business investment. A widening trade gap could be a drag on third-quarter GDP. Economists surveyed by The Wall Street Journal forecast GDP growth of 3.4% in the preliminary reading.

The University of Michigan releases October consumer-sentiment data. A measure of economic confidence among American households edged down in early October but remained at a high level. Economists surveyed by The Wall Street Journal expect the consumer sentiment index clocked in at 98.5 in the final October reading.

(END) Dow Jones Newswires

October 21, 2018 15:14 ET (19:14 GMT)

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