The Week Ahead
Monday, May 1, 10 a.m. EDT -- The National Association of Purchasing Management's business index probably dipped slightly in April, to 55.5% from 55.8% in March, says the median forecast of economists surveyed by Standard & Poor's MMS, a division of The McGraw-Hill Companies. More importantly, investors will look at the purchasers' index of prices paid for April. In March, it jumped to a five-year high of 79.8%.
Monday, May 1, 10 a.m. EDT -- Building outlays probably slipped 0.1% in March after jumping 1.5% in February.
NEW SINGLE-FAMILY HOME SALES
Tuesday, May 2, 10 a.m. EDT -- New homes likely sold at an annual rate of 910,000 in March, down from 919,000 in February.
PRODUCTIVITY & COSTS
Thursday, May 4, 8:30 a.m. EDT -- Output per hour worked in the first quarter probably grew at a strong annual rate of 4.1%, says the S&P MMS survey. That follows a robust 6.4% gain in the fourth quarter. As a result, unit labor costs were probably unchanged last quarter, after falling 2.5% in the fourth.
Friday, May 5, 8:30 a.m. EDT -- The S&P MMS median forecast projects that nonfarm payrolls grew a large 340,000 in April, after a 416,000 jump in March. Just as in March, jobs in April were lifted by U.S. Census Bureau hiring. The April jobless rate likely fell to 4%, from 4.1%.
Friday, May 5, 3 p.m. EDT -- Consumers likely added $10 billion in new debt in March, on top of $12 billion added in February.