The Week Ahead...

The two sluggish sectors of the economy-housing and manufacturing-are highlighted this coming week. While the National Association of Home Builders housing market index improved in November, the housing sector still is oscillating around a recent flat trend. This could be a key indicator after pending home sales decreased in October. Housing starts slipped in October but due to the volatile multifamily component which could rebound in November. Manufacturing may be regaining modest momentum as slipping in October-largely the utilities component. Production worker hours for manufacturing were healthy in November.