Global Week Ahead: U.S. Trade Data, Home Sales, Federal Reserve Meeting
December 16 2018 - 3:29PM
Dow Jones News
By a WSJ Staff Reporter
Wednesday: The U.S. Commerce Department publishes third-quarter
trade data. The current-account deficit, a measure of the nation's
trade and financial flows with other countries, narrowed in the
second quarter on ramped-up goods and services exports. The data
will be highly watched as the Trump administration's trade spat
with China continues. Economists surveyed by The Wall Street
Journal expect the trade gap widened in the third quarter.
The U.S. National Association of Realtors releases its gauge on
November sales of previously owned homes. Purchases of such homes
posted their largest annual decline since 2014 in October as the
housing market continues to sputter due to higher mortgage rates
that are reducing home affordability. Economists surveyed by The
Wall Street Journal expect sales declined in November from the
prior month.
The U.S. Federal Reserve releases its statement and projections
from its December meeting. Recent economic data releases, including
a solid jobs report, likely keep the Fed on track to raise rates at
the meeting. Fed officials believe the economy is on a strong
footing but is likely to slow in the coming year, a transition they
are monitoring closely. Analysts think the pace of rate increases
could slow next year.
Friday: The U.S. Commerce Department publishes its November
figures on orders for long-lasting factory goods. Its most recently
published report showed a decline in orders that suggested business
investment is softening, a discouraging sign for economic growth in
the fourth quarter. Economists surveyed by the Journal think orders
picked up in November, however.
The department also releases November personal income, spending
and inflation data on Friday. Its October report showed a fresh
sign of weakening inflationary pressures, though price increases
could accelerate if pressure from labor shortages and tariffs
intensify or oil prices pick up after a recent slump. Economists
surveyed by the Journal expect price growth picked up.
(END) Dow Jones Newswires
December 16, 2018 15:14 ET (20:14 GMT)
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