A look at some of the key business events and economic indicators upcoming this week:
HOUSING BELLWETHER
The Commerce Department reports on Tuesday its monthly data on newly started U.S. home construction projects.
Economists predict housing starts edged higher in November for the second month in a row. The gains in October came entirely from apartment construction as starts for single-family houses declined. Housing has stumbled in recent months as mortgage rates have climbed, making homes less affordable.
Housing starts, monthly, seasonally adjusted annual rate:
June 1,177,000
July 1,184,000
Aug. 1,280,000
Sept. 1,210,000
Oct. 1,228,000
Nov. (est.) 1,230,000
Source: FactSet
FED RATE HIKE?
The Federal Reserve is set to deliver an update on its economic and interest rate policy.
The central bank's policymakers are widely expected to announce a fourth increase to the Fed's benchmark interest rate this year, following a two-day meeting that ends Wednesday. Investors will be listening for any hints about how the Fed views potential rate hikes in 2019 amid growing signs that the global economy is slowing.
LOOKING BACK
The U.S. economy showed solid growth in the third quarter.
The Commerce Department's final estimate of gross domestic product, due on Friday, is forecast to show annual growth of 3.5 percent between July and September. That follows a robust expansion of 4.2 percent in the April-June quarter.
GDP, seasonally adjusted annual rate, by quarter:
Q2 2017: 3.0
Q3 2017: 2.8
Q4 2017: 2.3
Q1 2018: 2.2
Q2 2018: 4.2
Q3 2018 (est.): 3.5
Source: FactSet
