Economic Reports

Government reports this week probably will show the U.S. economy grew faster in the third quarter than previously estimated and that orders for long-lasting, higher-priced goods rose in October, analysts said. On Wednesday, the Commerce Department is expected to report that the economy probably grew at a 5% annual pace in the third quarter. That would be up from the previous estimate of 4.8%. Gross domestic product grew at an annual rate of 1.9% in the second quarter and 3.7% in the first. On Tuesday, the government is expected to report that durable goods sales probably rose 0.2% last month, after a drop of 1.3% in September that was the first decline in five months. On Friday, Commerce Department figures are likely to show personal incomes rose 0.6% in October, after no change in September. Spending probably grew at a slower pace, rising 0.3% last month after rising 0.4% in September.