The passing of tax cuts will be front and center but it will also be a telling week for its fourth-quarter economy. Statistics will incorporate a full run from the housing sector and whether it can expand its emerging momentum, beginning Monday with all the housing market index from the state’s home builders followed on Tuesday by housing starts and permits.
Existing home sales will probably be Wednesday’s highlight followed on Friday by new home sales. Friday will also see the release of two other central indexes on the market: durable goods orders for the newest on the factory industry and personal income & outlays for updates on either the health of the customer and, quite importantly, the speed of inflation. There’s strong optimism for durable goods and consumer spending but much less so for core PCE inflation.
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