By a WSJ Staff Reporter 

Wednesday: The U.S. Commerce Department publishes third-quarter trade data. The current-account deficit, a measure of the nation's trade and financial flows with other countries, narrowed in the second quarter on ramped-up goods and services exports. The data will be highly watched as the Trump administration's trade spat with China continues. Economists surveyed by The Wall Street Journal expect the trade gap widened in the third quarter.

The U.S. National Association of Realtors releases its gauge on November sales of previously owned homes. Purchases of such homes posted their largest annual decline since 2014 in October as the housing market continues to sputter due to higher mortgage rates that are reducing home affordability. Economists surveyed by The Wall Street Journal expect sales declined in November from the prior month.

The U.S. Federal Reserve releases its statement and projections from its December meeting. Recent economic data releases, including a solid jobs report, likely keep the Fed on track to raise rates at the meeting. Fed officials believe the economy is on a strong footing but is likely to slow in the coming year, a transition they are monitoring closely. Analysts think the pace of rate increases could slow next year.

Friday: The U.S. Commerce Department publishes its November figures on orders for long-lasting factory goods. Its most recently published report showed a decline in orders that suggested business investment is softening, a discouraging sign for economic growth in the fourth quarter. Economists surveyed by the Journal think orders picked up in November, however.

The department also releases November personal income, spending and inflation data on Friday. Its October report showed a fresh sign of weakening inflationary pressures, though price increases could accelerate if pressure from labor shortages and tariffs intensify or oil prices pick up after a recent slump. Economists surveyed by the Journal expect price growth picked up.

(END) Dow Jones Newswires

December 16, 2018 15:14 ET (20:14 GMT)