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The Honolulu Advertiser
Posted on: Monday, December 22, 2008

Economic news out this holiday week to be grim

Washington Post

WASHINGTON — All the economic news this week is crammed into two days. Tomorrow there will be the final revision of third quarter gross domestic product data, which economists expect will confirm that the economy shrunk at a 0.5 percent annual pace. On Wednesday, the big news will be personal income and spending data for November. Income is expected to have been unchanged in November, while consumers are expected to have cut back on their spending by another 0.7 percent after a 1 percent drop in October. Also that day, data on durable goods orders will be released. That forward-looking indicator is expected to have fallen another 3 percent in November.