Business Week Index
THE WEEK AHEAD
Tuesday, May 27, 10:00 a.m.EDT -- Sales of existing single-family homes are
expected to have declined to an annual rate of 4.05 million in April, down from
4.10 million in March, according to a survey of forecasts taken by MMS
International, one of the McGraw-Hill Companies. Housing demand appears to be
holding up fairly well, despite the rise in mortgage rates through April. Rates
have since declined.
Tuesday, May 27, 10:00 a.m.EDT -- The Conference Board's index of consumer
confidence is expected to have risen to 117.3 in May from 116.8 in April, based
on the MMS survey. The rise is expected partly because the University of
Michigan's preliminary May index of consumer sentiment rose to a record high.
DURABLE GOODS ORDERS
Wednesday, May 28, 8:30 a.m.EDT -- The order books of durable goods
manufacturers are expected to have shown a 1% increase in April, compared with
March, says the MMS survey. That rise would follow a 3% drop in March. Despite
that decline, orders remain on a rising trend, with particular strength in
nondefense capital equipment excluding commercial aircraft. Orders and
shipments might have been adversely affected by auto-industry strikes.
GROSS DOMESTIC PRODUCT
Friday, May 30, 8:30 a.m.EDT -- First-quarter real GDP is expected to be
revised slightly higher, to 5.7%, up from 5.6% originally reported. The
Commerce Dept. will also report first-quarter profits. Aftertax earnings are
expected to have risen at an annual rate of 2.3% from the fourth quarter.
Friday, May 30, 10:00 a.m.EDT -- Sales of new single-family homes are expected
to have dipped to an annual rate of 800,000 in April, based on the MMS survey,
from 814,000 in March. In early May, builders reported a slight drop-off in