This week: Consumer confidence, Cintas earnings, pending home sales

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The Conference Board on Tuesday issues its consumer confidence index for March; on Wednesday workplace uniform company Cintas reports its latest earnings and on Thursday the National Association of Realtors releases its pending home sales report for February.

In February, American consumers were feeling less confident as concerns over a possible recession grew despite most recent data pointing to a healthy U.S. economy. The index’s decline last month came after three straight months of improvement. Consumer spending accounts for about 70% of U.S. economic activity, so economists pay close attention to consumer behavior.Cincinnati-based Cintas is expected by Wall Street analysts to post earnings of $3.58 per share in the period on sales of $2.

In January, signed contracts for homes fell 4.9% following December’s 5.7% increase. The pending home sales report serves as a forward-looking indicator of closings a month or two away. The housing market, which has been mired in a slump the past two years, has seen some encouraging signs lately with falling interest rates and more homes on the market.

 

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