The Week Ahead
NEW SINGLE-FAMILY HOME SALES Monday, Apr. 28, 10 a.m.EDT -- New homes probably sold at an annual rate of 793,000 in March, down from 811,000 in February, says the median forecast of economists surveyed by MMS International, one of The McGraw-Hill Companies. DURABLE GOODS ORDERS Tuesday, Apr. 29, 8:30 a.m.EDT -- New durable goods orders were likely flat in March, after jumping 1.5% in February. EMPLOYMENT COST INDEX Tuesday, Apr. 29, 8:30 a.m.EDT -- Wages and benefits for civilian employees likely rose 0.9% in the first quarter after a 0.8% gain in the fourth quarter, says the MMS survey. If so, labor costs would be up 3.1% from a year ago. A gain larger than 0.9% will upset the financial markets. CONSUMER CONFIDENCE Tuesday, Apr. 29, 10 a.m.EDT -- The Conference Board's confidence index probably dipped to 118 in April, from 118.5 in March. GROSS DOMESTIC PRODUCT Wednesday, Apr. 30, 8:30 a.m.EDT -- The MMS forecast expects that real GDP grew at a 4% annual rate in the first quarter, after increasing at a 3.8% pace in the fourth. Domestic demand alone probably soared at a 6% clip in the first quarter. PERSONAL INCOME Thursday, May 1, 8:30 a.m.EDT -- Both personal income and consumer spending likely rose 0.4% in March, after increasing 0.9% and 0.3%, respectively, in February. NAPM SURVEY Thursday, May 1, 10 a.m.EDT -- The National Association of Purchasing Management's business index likely fell to 54.3% in April, from 55% in March. EMPLOYMENT Friday, May 2, 8:30 a.m.EDT -- The MMS survey expects that payrolls grew 200,000 in April, after a 175,000 gain in March. April's jobless rate likely remained at 5.2%.
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