The Week Ahead
PERSONAL INCOME Monday, June 2, 8:30 a.m.EDT -- Personal income likely increased just 0.1% in April while consumer spending was flat, according to the median forecast of economists surveyed by MMS International, one of the McGraw-Hill Companies. In March, income jumped 0.6% and purchases rose 0.5%. CONSTRUCTION SPENDING Monday, June 2, 10 a.m.EDT -- Building outlays likely rose 0.5% in April, rebounding from a 0.2% drop in March. NAPM SURVEY Monday, June 2, 10 a.m.EDT -- The MMS survey forecasts that the business index of the National Association of Purchasing Management likely stood at 54% in May, little changed from April's 54.2%. LEADING INDICATORS Tuesday, June 3, 10 a.m.EDT -- The Conference Board's index of leading indicators probably dipped 0.1% in April, after no declines for 14 consecutive months. In March, the index rose 0.1%. FACTORY INVENTORIES Wednesday, June 4, 10 a.m.EDT -- Manufacturers probably drew down their inventories by a small 0.1% in April as floods and strikes hampered output. Inventories rose 0.2% in March. EMPLOYMENT Friday, June 6, 8:30 a.m.EDT -- The MMS median forecast expects a strong 220,000 gain in nonfarm payrolls for May, after a more modest 142,000 increase in April. The April number will most likely change, however, because the May report will include new seasonal factors and benchmark revisions to the job data. The unemployment rate is expected to edge up to 5% in May, from 4.9% in April. INSTALLMENT CREDIT Friday, June 6, 3 p.m.EDT -- Consumers likely added $5 billion to their installment debt totals in April, says the MMS survey. In March, credit rose just $2 billion.
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