This Week: Home sales, GameStop results, consumer spending

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

SPOTLIGHT ON HOUSING

The Commerce Department issues its February tally of new home sales Tuesday.

Sales rose to a seasonally adjusted annual rate of 764,000 in January, the fastest pace in more than 12 years, as low unemployment and declining mortgage rates stoked demand for homeownership. Economists expect sales slowed last month to 740,000.

New home sales, seasonally adjusted annual rate, by month:

Sept. 725,000

Oct. 707,000

Nov. 692,000

Dec. 708,000

Jan. 764,000

Feb. (est.) 740,000

Source: FactSet

NOT SO FUN

Wall Street expects another downbeat quarterly report card from GameStop.

Analysts predict the video game retailer's fiscal fourth-quarter earnings and revenue declined from a year earlier. That would follow two straight quarterly losses for the company, which has been hurt by declining sales. GameStop serves up its latest results Thursday.

CASH IN, CASH OUT

Economists project that consumer spending accelerated last month.

Spending rose just 0.2% in January, while incomes surged 0.6%, the biggest increase in nearly a year. The Commerce Department is expected to report Friday that consumer spending grew 0.3% in February. Consumers account for 70% of U.S. economic activity, so the more they spend, the more the economy grows.

Consumer spending, monthly percent change, seasonally adjusted:

Sept. 0.2

Oct. 0.2

Nov. 0.3

Dec. 0.4

Jan. 0.2

Feb. (est.) 0.3

Source: FactSet