The Week Ahead
NEW RESIDENTIAL CONSTRUCTION
Tuesday, June 19, 8:30 a.m. EDT -- Housing starts in May likely slipped to an annual rate of 1.6 million, from 1.61 million in April. That is the median forecast of economists surveyed by Standard & Poor's MMS, a unit of The McGraw-Hill Companies. The projected rate would be above last May's 1.57 million.
Wednesday, June 20, 10 a.m. EDT -- The Conference Board's composite index of leading indicators probably climbed 0.2% in May, after rising 0.1% in April.
Wednesday, June 20, 2 p.m. EDT -- The U.S. Treasury is expected to report a May deficit of $8.5 billion, following a record surplus of $189.8 billion in April.
Thursday, June 21, 8:30 a.m. EDT -- The April trade deficit in goods and services is expected to remain virtually unchanged at $31 billion, from $31.2 in March. Based on the S&P MMS median forecast, exports fell in April, after dropping 1% in March. Imports are expected to decline after jumping 2.9% in March.
Thursday, June 21, 10 a.m. EDT -- The U.S. current-account deficit probably narrowed for a second straight quarter to $107 billion in the first quarter, from $114.9 billion in the fourth. Even so, the deficit would equal a hefty 4.2% of the economy.