c.2013 New York Times News Service

c.2013 New York Times News Service

CONSUMER CONFIDENCE

On Tuesday, the Conference Board will release its monthly survey of consumer confidence in the United States for December. The sentiment gauge fell to a seven-month low of 70.4 in November, in the aftermath of October’s government shutdown and the troubled launch of the Affordable Care Act, but many economists expect the outlook to rebound this month. Besides the soaring stock market, the labor market has been showing signs of life with unemployment levels easing slightly, along with improved indicators for economic growth recently. Morgan Stanley economists expect the index to rise to 75 in December.

LATVIA JOINS EUROZONE

The Baltic nation of Latvia officially becomes the 18th member of the eurozone Wednesday. Latvians will be able to make purchases with the euro, or the eiro as it is known in Latvian, as well as with the national currency, the lats, until Jan. 15. On that day the euro will become the country’s sole legal tender, though citizens can exchange lati for euros at the Latvian central bank indefinitely. Latvia is the first new member of the eurozone since Estonia joined in 2011. Fireworks are planned in the Latvian capital, Riga, but otherwise the country’s accession is generating little fanfare in the rest of Europe.

BOEING VOTE

Boeing workers in the Puget Sound area of Washington state vote Friday on whether to approve an eight-year contract extension. Boeing says it will commit to locating assembly of its new 777X jet and fabricating the composite wing in the area if the workers, members of the machinists’ union, vote yes. That means Boeing would add more than 10,000 jobs there. The parent machinists’ union ordered the vote despite a 2-1 rejection of a similar deal in November. Machinist leaders in Washington state are urging a no vote, saying the deal contains too many concessions.

DETROIT BANKRUPTCY

Detroit and its creditors will be in bankruptcy court Friday to discuss revised plans to end several costly interest-rate swaps. Detroit’s counterparties, Bank of America and UBS, agreed last week to let Detroit out of the swaps for $165 million, after other creditors objected to previous plans for the city to pay $220 million. Detroit says terminating the swaps is essential for it to get special new financing for its operations in bankruptcy.