The Week Ahead
EXISTING HOME SALES
Monday, Apr. 26, 10 a.m. EDT -- Existing homes probably sold at an annual rate of 4.95 million in March, projects the median forecast of economists surveyed by Standard & Poor's MMS, a division of The McGraw-Hill Companies. Resales dipped 0.4% in February, to a 5.02 million rate.
Tuesday, Apr. 27, 10 a.m. EDT -- The Conference Board's index of consumer confidence likely fell slightly in April, to 133.3, from March's 133.9. The Kosovo crisis may be holding down optimism about the future, even as consumers remain upbeat about job prospects and the stock market.
DURABLE GOODS ORDERS
Wednesday, Apr. 28, 8:30 a.m. EDT -- New orders taken by durable-goods manufacturers probably rebounded by 1% in March, after dropping a large 4.9% in February. Almost all industries reported declines in February.
EMPLOYMENT COST INDEX
Thursday, Apr. 29, 8:30 a.m. EDT -- Employment costs for civilian workers probably grew 0.8% in the first quarter, says the S&P MMS survey. That follows a 0.7% rise in the fourth quarter. The expected gain would mean that labor costs advanced 3.5% in the year ended in March, slightly faster than the 1998's 3.3% pace.
NEW SINGLE-FAMILY HOME SALES
Thursday, Apr. 29, 10 a.m. EDT -- New single-family homes likely sold at an annual rate of 875,000 in March. If so, that would be the fourth consecutive decline in home sales.
REAL GROSS DOMESTIC PRODUCT
Friday, Apr. 30, 8:30 a.m. EDT -- Real GDP probably grew at an annual rate of 3.9% in the first quarter, says the median S&P MMS forecast. That would be down from the torrid 6% pace of the fourth quarter. While domestic demand increased at a very quick pace, a widening in the net-export trade deficit subtracted substantially from GDP growth last quarter.