The Week Ahead
CONSUMER CONFIDENCE Tuesday, May 30, 10 a.m. -- The Conference Board's May confidence index fell to 103 from April's 105.5. That's the median forecast of economists polled by MMS International, one of the McGraw-Hill Cos. GROSS DOMESTIC PRODUCT Wednesday, May 31, 8:30 a.m. -- The Commerce Dept. is expected torevise first-quarter GDP growth to an annualrate of 3%, from the 2.8% pace firstreported. NEW HOME SALES Wednesday, May 31, 10 a.m. -- New homes likely sold at an annualrate of 587,000 in April, up from 577,000 in March. A drop in mortgagerates is spurring home buying. PERSONAL INCOME Thursday, June 1, 8:30 a.m. -- The MMS survey forecasts that personal incomerose 0.3% in April, half the 0.6% gain of March. Consumer spending likelyrose 0.2% in April, after a 0.5%rise. NAPM SURVEY Thursday, June 1, 10 a.m. -- The business index of the National Association of Purchasing Management probably fell to 50.5% in May, from 52% in April. The expectedreading is near the 50% mark, at which point industry is treading water. EMPLOYMENT Friday, June 2, 8:30 a.m. -- The MMS median forecast expects that nonfarm payrolls added 163,000 workers in May,rebounding from the 9,000 drop in jobs in April. The unemploymentrate probably slipped to 5.7% in May, from 5.8% in April. LEADING INDICATORS Friday, June 2, 8:30 a.m. -- The composite index of leading indicators probably fell 0.3% in April, the third consecutive decline. CONSTRUCTION SPENDING Friday, June 2, 8:30 a.m. -- Construction spending was likely unchanged in April, after falling 0.4% in March.
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