This Week: Construction spending, Amazon earns, jobs report
A look at some of the key business events and economic indicators upcoming this week:
EYE ON CONSTRUCTION
The Commerce Department issues its latest monthly tally of U.S. construction spending Monday.
Spending is expected to have risen 0.7% in December. That would be a slightly slower pace than November’s 0.9% gain. Strength in homebuilding has helped offset weakness in other parts of the construction industry. Through the first 11 months of 2020, construction spending increased 4.4% compared to the same period in 2019.
Construction spending, monthly percent change, seasonally adjusted:
Dec. (est.) 0.7
Wall Street expects Amazon.com capped 2020 with another solid quarterly report card.
Analysts predict the e-commerce giant will report Tuesday that it’s fourth-quarter earnings and revenue increased from a year earlier. That would echo the company’s results in the previous two quarters. Amazon’s sales have risen sharply during the pandemic as more people turn to online shopping for groceries and other goods. In November, Amazon began selling prescription medications, too.
Economists predict hiring in the U.S. rebounded in January after falling the previous month.
They expect the Labor Department will report Friday that nonfarm employers added 150,000 jobs in January. That would follow a loss of 140,000 jobs in December, the first month that the nation shed jobs since April. December’s negative jobs number stemmed entirely from a loss of nearly 500,000 jobs in a category that includes restaurants, bars, hotels, casinos and entertainment.
Nonfarm payrolls, monthly change, seasonally adjusted:
Jan. (est.) 150,000
The Associated Press