This week in economic news

It's yet another week that will keep economy-watchers on their toes, with a slew of news.

TUESDAY

Factories may be losing some steam

On the first day of December, we get an early read on how the economy performed in November. The Institute for Supply Management's index of manufacturing activity is expected to show that the nation's factories continued increasing their output in November, but less rapidly than in October. The index is expected to come in at 54.8, down from 55.7 (numbers above 50 indicate expansion), consistent with other recent indicators that suggest the manufacturing recovery is losing a bit of steam.

WEDNESDAY

The Fed's read on the economy

The Federal Reserve publishes its "beige book," a compilation of anecdotal information from businesses across the country. Expect the report to show continued sluggish expansion in the economy, with uneven signs of progress among different sectors.

THURSDAY

Confirmation hearing for Bernanke

It's a big day for Ben S. Bernanke, as the Federal Reserve chairman goes before the Senate banking committee in a hearing for confirmation to a second four-year term. It could be a tough one: While lawmakers generally hold him in high regard personally, many are unhappy with the Fed's performance in the run-up to the economic crisis and with the bailouts that Bernanke engineered during last year's financial collapse. He is expected to be confirmed, but it won't be fun.

Also Thursday, the Institute for Supply Management releases its service-industry index, which is expected to show continued expansion.

FRIDAY

Baby steps on jobs

The November employment report will indicate whether the job market continued its oh-so-gradual process of improvement. Look for the unemployment rate to stay unchanged at 10.2 percent, along with a net loss of 120,000 jobs. That would be the lowest rate of job loss since January 2008, the first month of the recession, and would suggest the nation might start gaining jobs early in 2010.

-- Neil Irwin