Sunday, February 22, 2009

This week brings data on the housing market and the economy's performance at the end of last year. On Wednesday, we find out how existing-home sales fared in January after they posted a surprising increase in December. Data on durable goods orders are due out Thursday. That forward-looking indicator is expected to be down as consumer spending remains low. On Friday, the government will revise its fourth-quarter gross domestic product data. The initial estimate said the economy shrank by 3.8 percent, a much better result than the 5 percent most economists had expected. Since then, however, more bad news has rolled in and that figure is likely to be revised downward.

-- Annys Shin

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