Investors will have a bumper crop of U.S. economic data to pick over this week. Here at home the key economic report will be November’s employment numbers. Meanwhile, several of Canada big banks release fourth-quarter earnings.

The preliminary gross domestic product figures for the third quarter are due for release Wednesday, as are new home sales.
On Wednesday, Statistics Canada releases industrial product and raw materials price index figures for October.

Economists forecast declines of 0.2% for industrial products and 1.7% for raw materials.

Separately, StatsCan reports on the current account balance for the third quarter. A surplus of $3.5 billion is expected, compared with $4.2 billion in the second quarter.

On Thursday, Statistics Canada reports on gross domestic product for September. Economists forecast a month-over-month increase of 0.1%, compared with an increase of 0.3% the previous month.

On Friday, StatsCan releases its labour force survey for November. Economists forecast a net jobs gain of 10,000, compared with 50,500 in October. The unemployment rate is expected to be 6.3%, up from 6.2% the previous month.

South of the border

On Tuesday, the U.S. Department of Commerce reports on durable goods orders for October. Economists expect a decline of 5%, compared with a gain of 7.8% the previous month.

Meanwhile, the U.S. Conference Board reports on consumer confidence data for November. Economists expect a reading of 106, up from 105.4 the previous month.

As well, the U.S. National Association of Realtors reports on existing home sales for November. Economists forecast a decline of 0.5% from the previous month and annualized sales of 6.15 million units.

In international economic news, the OECD presents latest economic outlook.

On Wednesday, the U.S. Commerce Dept. issues preliminary figures on third-quarter gross domestic product. Economists expect an annualized rise of 1.8%, compared with a rise of 1.6% a year ago.

Separately, Commerce reports advance figures on third-quarter gross domestic product. Economists expect an annualized rise of 2.1%.

Commerce also reports on new home sales in October. Economists forecast sales of 1.05 million homes, down from 1.075 million the previous month.

Meanwhile, the U.S. Federal Reserve Board issues its beige book, a summary of economic conditions in the 12 Fed districts.

On Thursday, the U.S. Commerce Dept. reports on personal income and spending for October. Economists forecast increases of 0.5% in income and 0.1% in spending.

Meanwhile, the U.S. Department of Labor reports on initial jobless claims for the week ended Nov. 25. Economists expect 317,000 claims, up from 321,000 a week ago.

The Chicago arm of the National Association of Purchasing Managers releases its manufacturing index for November. Economists forecast a reading of 54.4, up from 53.5 the previous month.

On Friday, the U.S. Commerce reports on construction spending for October. Economists forecast a decline of 0.3%, unchanged from the previous month.

The U.S. Institute of Supply Management issues its manufacturing index for November. Economists expect a reading of 51.8, up slightly from 51.2 the previous month.

Corporate earnings

Bank earnings season kicks off this week, with Bank of Montreal reporting fourth-quarter results on Tuesday.

National Bank of Canada and Royal Bank of Canada report fourth-quarter results on Thursday.

Other companies scheduled to report quarterly earnings include: Bombardier Inc.; MKS Inc.; Mosaid Technologies Inc.; and Tundra Semiconductor Corp.