Data to Show Steady Growth, Low Jobless Rate

The first batch of U.S. economic statistics to be released in the new year will probably point to the lowest unemployment rate in three decades and a steady pace of growth, analysts said. On Friday, the Labor Department is expected to report that the economy probably added 239,000 jobs during December as the unemployment rate held at 4.1%, tying a low set in 1970. That would put total job growth for all of 1999 at more than 2.5 million. In November, the economy added 234,000 jobs. Manufacturing, meanwhile, probably expanded in December for the 11th consecutive month. The National Assn. of Purchasing Management’s factory index, coming today, probably rose to 56.3 for the month from 56.2 in November. A read of 50 or more points to growth in the industrial economy. “The expansion is far from over,” said Astrid Adolfson, an economist at MCM MoneyWatch in New York.

Other economic reports due this week:

* The Commerce Department report Tuesday on construction spending across the U.S. will probably show an increase of 0.1% in November after rising 0.3% during October, analysts said.

* The Commerce Department on Wednesday is likely to report that orders at the nation’s manufacturers increased 0.9% in November after falling 0.2% during October, analysts said.

* On Thursday, the Commerce Department is expected to report that sales of new single-family homes declined 5.5% in November to 932,000 at a seasonally adjusted annual rate from 986,000 during October, analysts said.

* The Federal Reserve on Friday is likely to report that consumer credit increased $6.6 billion in November after rising $4.2 billion in October, analysts said.