Toll Brothers 4Q, consumer borrowing, producer prices
A look at some of the key business events and economic indicators upcoming this week:
TOLL BROTHERS 4Q
Wall Street expects that Toll Brothers closed out its last fiscal year with another solid quarter.
Analysts predict the luxury homebuilder will report Tuesday that its fiscal fourth-quarter earnings and revenue increased compared to the same period last year. Toll Brothers posted profit growth in previous quarters this year, but in the third quarter it reported a sharp drop in contracts for new homes as mortgage rates continued to climb sharply.
JUST CHARGE IT
Americans have been ramping up their use of credit this year.
U.S. consumer borrowing, excluding mortgages and other loans secured by real estate, jumped by $25 billion in September from the previous month. The September increase pushed total consumer credit to around $4.7 trillion. Economists expect consumer borrowing rose by $23.1 billion in October. The Federal Reserve releases its latest monthly consumer borrowing data Wednesday.
Consumer borrowing, monthly change, seasonally adjusted, billions of dollars:
Oct. (est.) 23.1
The Labor Department delivers its monthly index of U.S. wholesale prices Friday.
Economists expect the producer price index, which measures price pressures before they reach consumers, rose 0.3% in November from the previous month. In October, the index edged up 0.2% from the previous month, though inflation at the wholesale level still jumped 8% compared with a year earlier.
Producer price index, monthly percent change, seasonally adjusted:
Nov. (est.) 0.3
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.