Here’s a summary of significant business happenings and economic metrics to watch for in the coming week.
**FOCUS ON UNITED AIRLINES**
On Tuesday, United Airlines will unveil its latest quarterly financial results. Analysts on Wall Street anticipate that the airline’s earnings for the July to September period will be lower in comparison to the same timeframe last year, while revenue is expected to show an increase. In the second quarter, United experienced a notable 23% profit increase, largely fueled by record passenger numbers at U.S. airports, helping to offset escalating fuel and labor costs. However, in July, the airline cautioned that it would likely fall short of expectations for the third quarter, attributing this to an oversupply of flights in the U.S., which prompted airlines to reduce ticket prices to attract customers.
**MONITORING RETAIL SALES**
On Thursday, the Commerce Department will publish its monthly report detailing U.S. retail sales. In the previous month, retail sales showed a slight increase of 0.1% from July to August, building on a significant rise that was the largest in 18 months. Online retailers, alongside sporting goods shops and home improvement stores, have all reported an uptick in sales activity. Economists predict that retail sales will increase by about 0.5% in September.
Here is a brief overview of the recent changes in retail sales, which are seasonally adjusted and reflect the monthly percentage change:
– April: -0.2%
– May: 0.2%
– June: -0.3%
– July: 1.2%
– August: 0.1%
– September (estimate): 0.5%
**HOUSING MARKET UPDATE**
This week, new statistics regarding residential construction are expected to shed light on the current new home market conditions. The Commerce Department is likely to announce on Friday that the rate of building new condos and single-family homes has slowed down in September when contrasted with the previous month. This anticipated decline follows two consecutive months of increased housing starts.
Below is a summary of monthly housing starts, reported at a seasonally adjusted annual rate:
– April: 1,377,000
– May: 1,315,000
– June: 1,329,000
– July: 1,237,000
– August: 1,356,000
– September (estimate): 1,350,000
These upcoming reports and indicators will be crucial for understanding the economic landscape and planning for the future.