The Week Ahead

BUSINESS INVENTORIES

Monday, July 16, 8:30 a.m. EDT -- Business inventories likely declined 0.1% in May, based on the median forecast of economists surveyed by Standard & Poor's MMS, a unit of The McGraw-Hill Companies. Inventories held steady in April.

INDUSTRIAL PRODUCTION

Tuesday, July 17, 9:15 a.m. EDT -- Factory output likely fell 0.4% in June, while June capacity utilization probably slipped to 77%, the lowest level since August, 1983.

CONSUMER PRICE INDEX

Wednesday, July 18, 8:30 a.m. EDT -- Consumer prices for goods and services likely grew by just 0.1% in June. Excluding food and energy, core prices probably increased 0.2%.

NEW RESIDENTIAL CONSTRUCTION

Wednesday, July 18, 8:30 a.m. EDT -- Housing starts in June likely fell to an annual rate of 1.61 million, from 1.62 million in May.

INTERNATIONAL TRADE

Thursday, July 19, 8:30 a.m. EDT -- The May trade deficit probably narrowed to $32 billion, from $32.2 billion in April. The weaker economy is causing a drop in demand for foreign goods, despite the strong dollar.

LEADING INDICATORS

Thursday, July 19, 10 a.m. EDT -- The Conference Board's composite index of leading indicators likely advanced 0.2% in June.

FEDERAL BUDGET

Friday, July 20, 2 p.m. EDT -- The U.S. Treasury will likely report a June surplus of $57 billion.

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