This Week: Housing starts, Netflix earns, leading indicators

The Commerce Department delivers its December snapshot of newly started residential construction projects Wednesday

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

HOUSING MARKET BELLWETHER

New government data on residential construction should provide insight into the state of the new-home market.

The Commerce Department is expected to report Wednesday that builders broke ground on new apartments and single-family homes at a slower pace in December than in the previous month. The pace of U.S. home construction accelerated in November amid continued strong demand, though supply chain snarls have led to construction delays.

Housing starts, monthly, seasonally adjusted annual rate:

July 1,562,000

Aug. 1,573,000

Sept. 1,550,000

Oct. 1,502,000

Nov. 1,679,000

Dec. (est.) 1,655,000

Source: FactSet

BINGE THIS

Netflix serves up its latest quarterly report card Thursday.

Wall Street predicts the video streaming giant’s earnings declined and its revenue rose in the October-December quarter versus the same period in 2020. That would be a mixed finish to the year after posting profit and revenue growth the previous three quarters. Investors will be listening for an update on Netflix’s subscriber tally and its foray into video game streaming.

ECONOMIC BAROMETER

Economists expect that the Conference Board will report Friday that its index of leading economic indicators rose 0.8% in December. That would follow an increase of 1.1% the previous month. The index, derived from data that for the most part have already been reported individually, is designed to anticipate economic conditions three to six months out.

Leading indicators, monthly percent change, seasonally adjusted:

July 0.9

Aug. 0.8

Sept. 0.3

Oct. 0.9

Nov. 1.1

Dec. (est.) 0.8

Source: FactSet

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