This week in business

ARE GADGET SHOWS RECESSION-PROOF?

The International Consumer Electronics Show, the largest trade show in the U.S., opens this week in Las Vegas with a full slate of giant TVs and inventive gadgets, despite the pall of a recession hanging over the industry.

The economic downturn will temper the usually dizzying extravaganza, and some attendees are wondering whether the whole technology trade show business is past its peak. The show starts Wednesday with a keynote speech by Microsoft CEO Steve Ballmer.

Meanwhile, in San Francisco, MacWorld runs through Friday, but without an appearance by Apple CEO Steve Jobs.

TODAY

The good news for the auto industry in December came when General Motors and Chrysler got their federal bailout. The bad news is coming today, when automakers are expected to report another month of staggering sales declines.

Many analysts are predicting the industry to report that U.S. sales in December dropped about 40 percent, bringing an official close to what was one of the industry's most trying years and providing little hope for much improvement in 2009.

"Perhaps by the second half of [2009] there can be a case for an improved economy, or at least an economy that's getting back on its feet," said George Pipas, Ford Motors' top sales analyst.

ECONOMIC CALENDAR

TODAY: Commerce Department releases construction spending for November, 10 a.m.

TUESDAY: Commerce Department releases factory orders for November, 10 a.m.; National Association of Realtors releases pending home sales index, 10 a.m.; Federal Reserve releases minutes from December meeting, 2 p.m.

FRIDAY: Labor Department releases unemployment data for December, 8:30 a.m.

THURSDAY: Retailers report December sales results.