Confidence check
The Conference Board delivers its latest monthly snapshot of U.S. consumer confidence on Wednesday.
Analysts expect that Americans’ confidence increased in December from November. Consumer spending accounts for around 70% of U.S. economic activity, so economists pay close attention to gauge how it may affect the broader economy. Rising consumer confidence would bode well for the ongoing holiday shopping season.
Consumer confidence, by month:
July 114.0
Aug. 108.7
Sept. 104.3
Oct. 99.1
Nov. 102.0
Dec. (est.) 104.9
Source: FactSet
Home sales
The National Association of Realtors on Wednesday reports data on home sales in November.
Analysts forecast that sales of previously occupied homes fell for the sixth month in a row amid high mortgage rates and a dearth of properties for sale. Homes sales slumped in October to their slowest pace in more than 13 years while home prices kept climbing.
Existing home sales, in millions, seasonally adjusted annual rate:
June: 4.16
July: 4.07
Aug.: 4.04
Sept.: 3.95
Oct. (est.): 3.79
Nov. (est.): 3.77
Source: FactSet.
Inflation barometer
The Commerce Department delivers its November snapshot of U.S. consumer spending and inflation on Friday.
The personal consumption expenditure price index, a gauge of inflation that’s closely monitored by the Federal Reserve, is expected to show that inflation eased further in November. The Fed began raising interest rates in March 2022 in a bid to cut inflation to 2%. It has held rates steady over its last several meetings as it monitors easing inflation.
PCE Deflator, annual percent change, seasonally adjusted:
June 3.2
July 3.4
Aug. 3.4
Sept. 3.4
Oct. (est.) 3.0
Nov. (est.) 2.8
Source: FactSet