Looking Ahead: Week of October 22 to October 26
Market News International compiles a market consensus that surveys 15 to 20 economists each week.

Monday
The market consensus shows that the index of leading indicators will decrease 0.5 percent in September. The drop in stock prices alone will be a major contributor to the expected decline in this index. (Forecast range: -0.2 to -0.6 percent)

Wednesday
The Fed's Beige Book will be closely monitored for signs of economic improvement. This anecdotal evidence will be more timely than any of the other economic indicators we've seen so far.

Thursday
The market consensus is looking for new jobless claims to increase 12,000 to 502,000 in the week ended October 20 from last week's level of 490,000. (Forecast range: -10,000 to +35,000)

New orders for durable goods are expected to decline 2 percent in September after remaining unchanged in August. Given the weakness in other manufacturing indicators, it is likely that durable goods orders will remain sluggish in the near term. (Forecast range: -0.5 to -3.5)

The market consensus shows that the employment cost index is predicted to increase 0.9 percent in the third quarter, matching the second quarter pace. An increase of 0.9 percent for the quarter would keep the year-over-year rise at 3.9 percent. Many economists are looking for the benefits component to rise more rapidly than the wage component. Wages, however, are a larger share of this index. (Forecast range: 0.8 to 1.4 percent)

Economists expect that existing home sales will post a drop of 5.5 percent in September to a 5.2 million-unit rate. This encompasses the September 11 attacks, which kept many potential homebuyers at home in front of their television sets during a good portion of the month. Given low mortgage rates, though, there is potential for improvement in coming months. (Forecast range: 4.75 to 5.35 million- unit rate)

Friday
New home sales are expected to decline 4.2 percent in September to an 860,000 unit pace. Gains have been more moderate for new home sales than existing home sales in the past couple of months, so economists are looking for a smaller drop here. (Forecast range: 800,000 to 920,000)