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Preview / WEEK OF AUG. 25 - 31

Consumer Confidence, Housing Data Expected

August 25, 2003|From Reuters and Associated Press

Reports this week on consumer confidence, home sales, gross domestic product, durable goods, jobs, personal income and manufacturing may offer more evidence that the economy is emerging from its funk.

Perhaps most closely watched will be reports on sales of existing and new homes -- due today and Tuesday, respectively -- that will reveal whether the housing sector continues to sizzle.

"If we see home sales pick up, that will be really good," said Ozan Akcin, chief market strategist at Puglisi & Co. "It will show that the consumer sector still has some strength to it."

Here are this week's key economic events:

Today:

* National Assn. of Realtors reports on existing-home sales for July.

Tuesday:

* Commerce Department reports on durable goods orders and new-home sales for July.

* Conference Board reports on consumer confidence.

Wednesday:

* National Assn. of Manufacturers releases its annual Labor Day report on the state of the American workforce.

Thursday:

* Commerce Department reports on gross domestic product, second quarter.

* Labor Department reports on weekly jobless claims.

* Freddie Mac reports on mortgage rates.

Friday:

* Commerce Department reports on personal income and spending for July.

* University of Michigan releases its report on consumer sentiment for August.

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