The Week Ahead
Monday, June 4 -- Sales of U.S.-made and imported cars and light trucks probably totaled an annual rate of 16 million in May, according to the median forecast of economists surveyed by Standard & Poor's MMS, a division of The McGraw-Hill Companies. That sales pace would be down sharply from the April rate of 16.5 million and the first-quarter pace of 17.2 million. So far this year, lucrative dealer incentives and rebates have pushed vehicle sales consistently above expectations.
Tuesday, June 5, 10 a.m. EDT -- Manufacturing inventories were probably down 0.1% in April, after a 0.6% drop in March. April inventories of durable goods increased 0.1%, but falling petroleum inventories, a nondurable-goods item, are expected to help offset the advance in durables.
INITIAL UNEMPLOYMENT CLAIMS
Thursday, June 7, 8:30 a.m. EDT -- New filings for state unemployment benefits likely remained above 400,000 for the week ended June 2. Over the past four weeks, jobless claims have averaged 403,000. The jump in claims shows the job market is loosening rapidly, as profits slump and economic growth continues to slow.
Thursday, June 7, 3 p.m. EDT -- Consumers likely took on $8.3 billion of new debt in April, after rising $6.1 billion in March. Debt accumulation slowed in the first quarter, to $11.5 billion per month, compared with $12.8 billion per month in all of 2000.