A busy week ahead with the release of manufacturing, consumer spending and construction outlays data, as well as the second estimate of fourth-quarter gross domestic product.
On Tuesday, the U.S. Commerce Department is expected to report that GDP increased at a 2.1 percent annualized rate in the fourth quarter instead of the 1.9 percent pace it estimated last month. Other reports on Tuesday are expected to show that consumer confidence was little changed in February, while house prices rose 5.3 percent in December, compared with a year ago.
Data from the Commerce Department on Wednesday is expected to show that consumer spending increased 0.3 percent in January after advancing 0.5 percent in December. Personal income is expected to rise 0.3 percent in January after a similar gain in December. Data from the Institute for Supply Management on Wednesday is expected to show that national manufacturing activity index remained unchanged in February from 56.0 in January. Construction spending is forecast to have increased 0.6 percent in January.
On Friday, the Institute for Supply Management is likely to report that its nonmanufacturing activity index remained unchanged in February from 56.5 in January.
