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This Week: Consumer confidence, home sales, Best Buy earns


This Week in Business


Feb 24, 2020 - The Associated Press


A look at some of the key business events and economic indicators upcoming this week:


EYE ON CONSUMERS


The Conference Board issues its latest index of consumer confidence on Tuesday.


Economists expect this month's index will show a reading of 132.5. That would be the highest reading since August. Continued strength in the job market and low unemployment has helped keep the index elevated. A reading of 90 or better reflects a healthy economy.


Consumer confidence, by month:


Sept. 126.3


Oct. 126.1


Nov. 126.8


Dec. 128.2


Jan. 131.6


Feb. (est.) 132.5


Source: FactSet


HOME SWEET HOME


Lower mortgage rates helped boost sales of new homes in 2019 after a weak start to the year.


All told, sales of newly built U.S. homes climbed 10.3% last year to 681,000. That's the highest total since 2007, when the housing bubble was beginning to deflate ahead of the Great Recession. Did the trend continue this year? Find out Wednesday, when the Commerce Department serves up its January tally of new home sales.


New home sales, seasonally adjusted annual rate, by month:


Aug. 708,000


Sept. 725,000


Oct. 705,000


Nov. 697,000


Dec. 694,000


Jan. (est.) 710,000


Source: FactSet


STRONG FINISH?


Wall Street expects that Best Buy closed out its last fiscal year with another solid quarter.


Analysts predict the consumer electronics retailer will report Thursday that its fiscal fourth-quarter earnings and revenue increased from a year earlier. That would echo the company's results in the previous three quarters. Investors will be listening for an update on Best Buy's profit expectations for the current quarter.

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