The economic data flow will be much lighter than usual with Canadian financial markets closed Thursday and Friday.

On Tuesday, the U.S. Department of Commerce reports on new-home sales for November. Economists expect sales on an annualized basis of 415,000, down from 433,000 in the previous month.

Separately, Commerce announces its final revised figures for third-quarter economic growth. Gross domestic product is expected to have fallen 0.5% on an annualized basis compared with the previous quarter.

Also, the National Association of Realtors reports on U.S. existing home sales for November. Economists expect annualized sales of 4.93 million, down from 4.98 million in the previous month.

On Wednesday, Statistics Canada reports on gross domestic product for October. Economists expect a drop of 0.3% from the previous month.

South of the border, the U.S. Commerce Dept. reports on durable goods orders for November. Economists expect a 3% decline from the previous month.

Separately, Commerce reports on personal income and spending for November. No change in personal income is expected from the previous month; spending is expected to have fallen 0.7%.

As well, the U.S. Department of Labour reports on initial jobless claims for the week ended Dec. 20. Economists expect 550,000 claims, down from 554,000 the previous week.

On Thursday, North American stock and bond markets are closed for Christmas Day.

On Friday, Canadian financial markets are closed for Boxing Day.

Corporate earnings

Walgreen Co. and Steelcase Inc. are on the earnings calendar for Monday.

IE