By Kathleen Madigan 
 

The economic reports are front-loaded this week because the U.S. government and financial markets will close Thursday to observe Christmas. Tuesday will bring a stocking full of data.

The Commerce Department will be particularly busy, as it is scheduled to release durable goods orders, the last look at third-quarter gross domestic product, new home sales and consumer income and spending.

Economists surveyed by The Wall Street Journal expect new orders for durable goods increased 3.0% in November, after a meager 0.3% gain in October. The November increase should be powered by stronger demand for transportation goods. Businesses remain reticent about boosting demand for other capital equipment and that has kept total durable goods orders on a mediocre trend.

More available data suggest real GDP in the summer was peppier than first thought. The median forecast says real GDP growth will be revised up to an annual rate of 4.3%, from the 3.9% rate now in place. Stronger spending on services is key to the upward refiguring.

Monthly data on consumer spending will also be out Tuesday. Economists think a 0.5% jump in November personal income allowed consumers to increase their spending by 0.5%. The expected increase is supported by increases already reported in car buying and retail sales.

Lastly, Commerce will report on new home sales. The median forecast predicts new home buying increased just 0.4%, to an annual rate of 460,000 in November. On Monday, the National Association of Realtors said existing home sales fell a steep 6.1% to 4.93 million in November.

DATE      TIME  RELEASE                PERIOD  CONSENSUS  PREVIOUS 
          (ET) 
Tuesday   0830  Durable Goods Orders    Nov     +3.0% (27)  +0.3% 
          0830  Real GDP (3rd Read)     3Q      +4.3% (27)  +3.9%* 
          0830  GDP Prices (3rd Read)   3Q      +1.4% (12)  +1.4%* 
          0955  Consumer Sentiment(end) Dec     93.8  (23)  93.8** 
          1000  Personal Income         Nov     +0.5% (28)  +0.2% 
          1000  Consumer Spending       Nov     +0.5% (29)  +0.2% 
          1000  Core PCE Prices         Nov     +0.1% (23)  +0.2% 
          1000  New Home Sales          Nov     460K  (29)  458K 
                  --percent change              +0.4%       +0.7% 
          1000  Richmond Fed Mfg Svy    Dec     N/A         4 
Wednesday 0830  Jobless Claims         Dec 20   290K  (21)  289K 
 
 *3Q 2nd reading 
 **Preliminary December reading 
 
     (Figures in parentheses refer to number of economists surveyed.) 
 

Write to Kathleen Madigan at kathleen.madigan@wsj.com