EXISTING HOME SALES Tuesday, May 28, 8:45 a.m.EDT -- Sales of existing homes probably fell to an annual rate of 4.03 million in April, according to the median forecast of economists surveyed by MMS International, one of The McGraw-Hill Companies. Sales had increased 6.9% in March, to a 4.21 million pace, but higher mortgage rates are starting to chip away at demand. CONSUMER CONFIDENCE Tuesday, May 28, 10 a.m.EDT -- The Conference Board's index of consumer confidence likely slipped to 101.8 in May, after jumping nearly seven points in April, to a 105.3 reading. Consumers' assessment of the current economic situation surged to 118.2 in April, from 110 in March. GROSS DOMESTIC PRODUCT REVISION Thursday, May 30, 8:30 a.m.EDT -- The MMS median forecast for the first revision in real GDP expects no change in the initial growth rate of 2.8% (at an annual rate) for the first quarter. However, the upward revisions to February and March retail sales suggest that consumer spending may have been stronger last quarter than first thought. The economy grew at just a 0.5% rate in 1995's fourth quarter. Aftertax profits likely rose 1.1% in the first quarter from the fourth. That's slightly less than the 1.9% gain in the fourth quarter. NEW HOME SALES Thursday, May 30, 10 a.m.EDT -- Sales of new single-family homes probably rebounded to an annual rate of 683,000 in April, after plunging 7.6% in March to a 672,000 rate. PERSONAL INCOME Friday, May 31, 8:30 a.m.EDT -- Personal income probably increased by a solid 0.4% in April, projects the MMS survey. However, consumer spending was likely up a smaller 0.2% for the month, as services offset a 0.3% drop in retail goods purchases. In March, personal income increased by 0.5%, while spending jumped 0.6% on strong motor-vehicle sales.
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