The Week Ahead
CONSUMER PRICE INDEX Tuesday, June 17, 8:30 a.m.EDT -- Consumer prices of all goods and services likely rose 0.2% in May, says the median forecast of economists surveyed by MMS International, one of The McGraw-Hill Companies. Excluding food and energy, core prices are also expected to have risen by 0.2%. In April, the total CPI edged up just 0.1%, but core prices were up 0.3%. HOUSING STARTS Tuesday, June 17, 8:30 a.m.EDT -- Housing starts probably stood at an annual rate of 1.45 million in May, says the MMS survey. If so, the rate would be down slightly from 1.47 million in April. INDUSTRIAL PRODUCTION Tuesday, June 17, 9:15 a.m.EDT -- Output at factories, mines, and utilities probably increased a small 0.2% in May, after no change in April. The average operating rate for all industry likely was unchanged in May at April's 83.4% reading. BEIGE BOOK Wednesday, June 18, 2 p.m.EDT -- The Federal Reserve will issue its roundup of economic activity reported by its 12 district banks. Economists will be interested in anecdotal reports of resurging demand. The Beige Book is published in advance of each Fed policy meeting. The next meeting is scheduled for July 1-2. INTERNATIONAL TRADE Thursday, June 19, 8:30 a.m.EDT -- The MMS survey expects that the trade deficit for goods and services widened to $10 billion in April, after a steep narrowing in March, to $8.5 billion. Exports, which surged 4.1% in March, are expected to fall back a bit, while imports, up only 1.1% in March, likely rose further in April. FEDERAL BUDGET Friday, June 20, 2 p.m.EDT -- The Treasury Dept. will probably announce a monthly deficit of $49 billion for May. That would be smaller than the $53.1 billion deficit of May, 1996. Washington reported a record surplus of $93.9 billion in April.
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