Next week a slew of economics releases in the U.S. should dominate market attention, although there will be plenty of earnings announcements, too.

CIBC World Markets says, “In the US, the spotlight shifts from earnings to economic releases, and October reports are likely to capture more attention than Q3 GDP. We expect a larger-than-consensus drop in the latter, mostly due to the depth of the hit to September activity.”

U.S. GDP is out on Wednesday, and is expected to show a 1% decline. BMO Nesbitt Burns says that the U.S. data “will start flying thick and fast next week. We believe real GDP will drop only 1.5% in the third quarter, largely because the free fall in the economy began very late in the period, leaving the average for the summer months relatively unaffected. There’s no question, however, that Q4 GDP could fall substantially, with our — 4% early call subject to further downside risk.”

Before that, we’ll see industrial price numbers in Canada on Monday. Tuesday will bring October consumer confidence numbers. “We might see consumer sentiment rebound fractionally, in sync with Wall Street’s renewed faith that interest rate and tax cuts will save the day,” says CIBC.

Canada’s August GDP is also out on Wednesday. On Thursday, the October National Association of Purchasing Mangers survey is released, along with personal income and spending numbers.

“The Purchasing Managers’ reports for October will be good snapshots of the post-attack manufacturing situation. We look for a steep plunge in NAPM, hopefully not below the 40 mark, and another indication that the prices companies are paying for parts and supplies are falling rapidly.”

Friday brings all-important employment numbers for both Canada and the US. “September’s jobs gains will look like only an aberration from the underlying trend if, as we expect, October sees a return to rapid employment declines,” says CIBC. “Certainly, the layoffs are coming, with the only question mark being the extent to which they show up in the October or November reports.”

BMO says, “The October employment report will bear the full brunt of the terrorist attacks. It is possible the unemployment rate could rise a full half point. Payroll jobs are likely to tumble 300,000 positions. We believe the steady drumbeat of worrisome data will gradually erode sentiment that has kept long-term bond yields relatively high. Expectations for additional Fed easing will be stoked as the week moves along.”

On the earnings front, Monday we’ll hear from Cara Operations, Linamar Corporation and Newmont Mining.

Tuesday will bring news from Ashanti Goldfields, ATCO Ltd., Gold Fields Ltd., Husky Energy, Manulife Financial, MDC Corporation, Quebecor World and TransCanada PipeLines Ltd.

On Wednesday, Agrium Inc. steps to the plate, joined by AngloGold Ltd., Enerflex Systems, Fortis Inc., Homestake Mining and Uni-Sélect Inc.

Cameco reports Thursday, as does Canadian Tire Corp., Finning International Inc., Laurentian Bank and Slater Steel.