Economy Week Ahead: US Household Spending, Home Sales in Focus

Wednesday

Economy Week Ahead: The Federal Reserve releases the minutes from its Jan. 31-Feb. 1 meeting, when central bankers voted to raise short-term interest rates by 0.25 points. The minutes will provide more details on the discussions over the decision.

Thursday

The Labor Department reports the number of worker filings for unemployment benefits in the week ended Feb. 18. Initial jobless claims held nearly steady in the prior week and remained historically low.

The Commerce Department releases its second output estimate for the US economy in the fourth quarter. The economy grew at a solid 2.9% annual rate last quarter, capping a year of slower economic growth than the previous year as reported at wsj digital only subscription.

The Statistics Bureau of Japan releases annual inflation data through January. Core consumer prices in Japan rose 4% in December from a year earlier, the fastest pace since December 1981.

Friday

The Commerce Department released figures on U.S. household spending and income in January. Consumer spending fell 0.2% in December from the prior month, the second consecutive monthly drop. More recently, U.S. retail sales, which capture part of consumer spending, jumped 3% in January. The department also releases its personal-consumption expenditures price index, a gauge of inflation closely watched by the Fed. The PCE price index rose 5% in December from a year earlier, down from the 5.5% rise in November.

The University of Michigan publishes its final reading of consumer sentiment for February. A reading earlier this month showed that sentiment improved somewhat but remained subdued as concerns about the economy persisted.

The Commerce Department releases data on new home sales in January, which account for about 10% of the housing market.