News

This Week: Housing starts, Nike results, US GDP

A look at some of the key business events and economic indicators upcoming this week:

HOUSING BELLWETHER

Builders have stepped up new construction as sales have accelerated this year.

Newly started residential construction projects increased to a seasonally adjusted annual rate of 1.31 million in October. Economists project that housing starts accelerated to 1.33 million last month. The Commerce Department issues its November tally of housing starts Tuesday.

Housing starts, monthly, seasonally adjusted annual rate:

June 1,233,000

July 1,204,000

Aug. 1,375,000

Sept. 1,266,000

Oct. 1,314,000

Nov. (est.) 1,330,000

Source: FactSet

JUST DO IT AGAIN

Wall Street expects another solid quarterly report card from Nike.

Analysts predict the athletic apparel company will report Thursday that its fiscal second-quarter earnings and revenue increased from a year earlier. Investors will be listening for a sales update. Last month, Nike said it would stop selling its wares directly to Amazon and focus on its own site and apps.

SLIGHT GDP BUMP?

The Commerce Department delivers its final estimate of third-quarter economic growth Friday.

Economists expect that the economy, as measured by the gross domestic product, grew at a 2.1% seasonally adjusted annual rate in the July-September quarter. Solid consumer spending has helped keep the economy growing amid a global slowdown and U.S. trade conflicts.

GDP, seasonally adjusted annual rate, by quarter:

Q2 2018: 3.5

Q3 2018: 2.9

Q4 2018: 1.1

Q1 2019: 3.1

Q2 2019: 2.0

Q3 2019 (est.): 2.1

Source: FactSet

The Associated Press