Investors are looking for any signs that the economy is slowing its descent. That could signal demand from consumers and businesses is set to rebound. But few economists expect the numbers will soon show a recovery.

Wall Street predicts manufacturers saw demand for goods like cars, airplanes, household appliances and furniture fall in January for the sixth straight month. Government figures are expected to show that orders for durable goods - manufactured products expected to last at least three years - fell 2.5 percent in January, according to economists surveyed by Thomson Reuters.

The Commerce Department report is due at 8:30 a.m. EST.

Investors also expect the government will show that new home sales fell slightly in January to a record low for the second straight month. Wall Street economists expect the Commerce Department to report that new home sales fell in January to a seasonally adjusted annual rate of 330,000 units from 331,000 units a month earlier.

The report is expected at 10 a.m.

In a report out yesterday, sales of existing homes sank unexpectedly last month to the lowest level in nearly 12 years as potential buyers worried about their jobs and awaited details of President Barack Obama's plans to stabilize the housing market.

But the banking industry's teetering fortunes and mounting job losses could stall any recovery. Falling prices and low mortgage rates don't make much of a difference for people who are out of work - or fearful of losing their jobs.

The most optimistic outlook is for a spring revival as home prices plummet. Government officials, hoping to spur demand, on Wednesday rolled out the details of a new $8,000 tax credit for first-time buyers. About 40 percent of all home sales last year were from first-time buyers.

Treasury Secretary Timothy Geithner said the tax credit should help provide an "immediate response to the current crisis."

The government response may help, but many consumers are still in wait-and-see mode.

"Buyers are sitting back," said real estate agent Sandra Lipmann of Prudential Centennial Realty in Westchester County, N.Y., home to the upscale properties of many Wall Street workers. "They don't have the full story of what's going to happen in this economy."

Sales of existing homes fell 5.3 percent to an annual rate of 4.49 million last month, from 4.74 million in December, the National Association of Realtors said Wednesday. It was the weakest showing since July 1997. And some analysts don't see sales bottoming out until later this year as prices sink further.