The Week Ahead

PERSONAL INCOME

Tuesday, May 29, 8:30 a.m. EDT -- Personal income in April likely rose 0.3%, after a 0.5% gain in March. That's the median forecast of economists polled by Standard & Poor's MMS, a unit of The McGraw-Hill Companies. Consumer spending likely grew by 0.4% in April on top of a 0.6% jump in March.

CONSUMER CONFIDENCE

Tuesday, May 29, 10 a.m. EDT -- The Conference Board's index of consumer confidence likely rose to 111.3 in May, from 109.2 in April.

EMPLOYMENT

Friday, June 1, 8:30 a.m. EDT -- Nonfarm payrolls probably lost 23,000 jobs in May, after a decline of 223,000 jobs in April. The drop will likely push the unemployment rate to 4.6%, from 4.5% in April. According to the S&P MMS median forecast, hourly earnings probably rose 0.3% in May, after advancing 0.4% in April.

PURCHASING MANAGERS' INDEX

Friday, June 1, 10 a.m. EDT -- The National Association of Purchasing Management's index of May industrial activity likely rose for a fourth straight month, to 44%, from 43.2% in April. Even so, the index still shows that manufacturing is in recession.

CONSTRUCTION SPENDING

Friday, June 1, 10 a.m. EDT -- Building outlays in April are forecasted to rise 0.5%, after a surprisingly strong 1.3% increase in March. Lower interest rates, caused by the Federal Reserve's aggressive easing in monetary policy, have especially helped residential construction.

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