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Economy Week Ahead: Home Sales, Consumer Spending, Inflation
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Reports on U.S. consumer spending and inflation highlight this holiday-shortened week. Outside of regular data, markets are also waiting for President Biden to announce his nomination for Federal Reserve chairman—a decision is expected this week.
U.S. existing-home sales are estimated to have fallen slightly to an annual pace of 6.2 million in October. The drop-off, if realized, would likely be some payback after a big gain in September, as well as a reflection of high and rising prices that have locked many first-time buyers out of the market.
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