Business Week 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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