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

A look at some of the key business events and economic indicators upcoming this week.

CONSUMERS' MOOD

The Conference Board on Tuesday releases its consumer confidence index for March.

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.

Consumer confidence, by month:

Sept.: 104.3

Oct.: 99.1

Nov.: 101

Dec.: 108

Jan..: 110.9

Feb.: 106.7

March (est.): 107.8

Source: FactSet

CINTAS REPORTS

Workplace uniform company Cintas reports its third-quarter earnings before the bell Wednesday.

Cincinnati-based Cintas is expected by Wall Street analysts to post earnings of $3.58 per share in the period on sales of $2.4 billion in sales. That would be a significant increase over the same period last year when the company earned $3.14 per share on $2.2 billion in sales. Since a pandemic dip in 2020, Cintas shares have steadily risen to all-time highs around $625.

HOME SALES BAROMETER

The National Association of Realtors issues its pending home sales index for February on Thursday.

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.

Pending home sales index, monthly percent change:

Aug: -5.1

Sept.: 1.5

Oct.: -0.7

Nov.: 0.7

Dec.: 5.7

Jan.: -4.9

Feb. (est.): -1.3%

Source: FactSet