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Businessweek Archives

Business Week Index: The Week Ahead

Business Week Index: THE WEEK AHEAD

BusinessWeek Index: THE WEEK AHEAD


Monday, June 26, 8:45 a.m. Sales of existing homes probably bounced back in

May, to an annual rate of 3.42 million. Resales had fallen in three of the

previous four months, including a 6.4% tumble in April, when sales totalled

only 3.39 million. But home buying has picked up, thanks to lower mortgage

rates. The Mortgage Bankers Assn. reports that mortgage applications to

purchase a home have been rising since February.


Tuesday, June 27, 10 a.m. The Conference Board's index of consumer confidence

likely slipped to 100 in June, according to the median forecast of economists

surveyed by MMS International, one of the McGraw-Hill Cos. The confidence

reading fell in May, to 101.6 from 104.6 in April. Consumers' assessment of the

current economy fell two points, to 114.3 in May, as job losses raised worries

about the economy. Another big fall in the present-situation index would

suggest that June payrolls did not bounce back much after a 101,000 drop in May.


Thursday, June 29, 10 a.m. Like existing home sales, purchases of new

single-family homes are forecast to rise, probably to an annual rate of 600,000

in May, says the MMS report. In April, sales fell 2.7%, to a 580,000 pace. So

far in 1995, new-home sales are down 12% from their pace of last year. As a

result, the inventory of unsold houses is quite high, suggesting little

new-home construction in the summer.


Friday, June 30, 8:30 a.m. Manufacturing inventories probably were little

changed in May. Stock levels had risen 0.6% in both March and April. But the

drop in factory output suggests that manufacturers are getting a better handle

on their stock levels. That's especially true in the auto industry. The MMS

survey forecasts that factory orders rose 0.3% in May. That would be the first

gain since January.

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