It’s a quiet week for Canadian economic news, but the flood of earnings reports will keep investors busy until jobs numbers are released Friday.

On Thursday, Statistics Canada reports on building permits for December. Economists expect a 5% drop from the previous month.

On Friday, StatsCan releases its labour force survey for January. Economists expect the unemployment rate to rise to 6.8% from 6.6% the previous month; job losses are expected at about 40,000.

U.S. and overseas

On Monday, the U.S. Department of Commerce reports on personal income and spending for December. Economists forecast income will decrease by 0.3% and personal spending is expected to fall 0.9%.

Separately, Commerce reports on construction spending for December. A drop of 1.2% is expected.

On Tuesday, the U.S. National Association of Realtors reports on pending home sales for December. Sales are expected to have remained unchanged, compared with a 4% decrease the previous month.

On Thursday, the U.S. Department of Labour reports on productivity and costs for the fourth quarter. Economists forecast non-farm productivity gains of 1%, annualized. Unit labour costs are expected to have risen 3%.

Separately, U.S. Labour reports on initial jobless claims for the week ended Jan. 31. Economists forecast 592,000 claims, up from 588,000 a week earlier.

The U.S. Commerce Department reports on factory orders in December. Economists expect a 3% drop from the previous month.

Overseas, the Bank of England monetary policy committee announces an interest rate decision, and the European Central Bank’s governing council meets in Frankfurt, followed by an interest rate announcement.

On Friday, the U.S. Department of Labour releases employment data for January. Economists expect non-farm payrolls to decline by 500,000; the jobless rate is expected to rise to 7.5% from 7.2% the previous month.

Meanwhile, the U.S. Federal Reserve Board reports on consumer credit in December. Economists expect a drop of US$2.3 billion.

Corporate earnings

On Monday, Mattel Inc. reports fourth-quarter results. Sysco Corp. reports second-quarter earnings.


On Tuesday, TransCanada Corp. reports fourth-quarter results, as does Bell Aliant Regional Communications Income Fund, Yum Brands Inc., BP PLC reports, Chicago Mercantile Exchange Holdings Inc., Avon Products Inc., Marathon Oil Corp., Motorola Inc., Dow Chemical Co., and United Parcel Service Inc.

Absolute Software Corp. reports second-quarter results, and Walt Disney Co. reports first-quarter earnings.

On Wednesday, Gaz Métro LP posts first-quarter results, as does Visa Inc. reports.

Alcatel-Lucent reports fourth-quarter earnings as does Goodrich Corp., Kraft Foods Inc., MetLife Inc., Philip Morris International Inc., and Time Warner Inc.

Cisco Systems Inc. reports second-quarter earnings, as does Sara Lee Corp.

Polo Ralph Lauren Corp. reports third-quarter results.

On Thursday, Cossette Communication Group Inc. posts first-quarter results.

Burger King Corp. reports second-quarter results.

Héroux-Devtek Inc. reports third-quarter earnings.

Fortis Inc. releases fourth-quarter results, as does Domtar Corp., Brookfield Properties Corp., TimberWest Forest Corp., Kellogg Co., MasterCard Inc., Sunoco Inc., Moody’s Corp., Prudential Financial Inc., and Western Union Co.

On Friday, Centerra Gold Inc. reports fourth-quarter results.

IE