The Week Ahead
EXISTING HOME SALES
Wednesday, July 25, 10 a.m. EDT -- Sales of existing homes probably came in at an annual rate of 5.26 million for June, down from the May rate of 5.37 million. That's based on the median forecast of economists surveyed by Standard & Poor's MMS, a division of The McGraw-Hill Companies.
EMPLOYMENT COST INDEX
Thursday, July 26, 8:30 a.m. EDT -- Compensation in the second quarter likely rose 1%, after advancing 1.1% in the first quarter. For the year ended March, 2001, benefits costs grew by 4.7%, far outpacing wage gains over the same period.
DURABLE GOODS ORDERS
Thursday, July 26, 8:30 a.m. EDT -- New orders for durable goods are expected to have fallen 1% in June, following a jump of 2.9% in May, helped by a rebound in semiconductors.
GROSS DOMESTIC PRODUCT
Friday, July 27, 8:30 a.m. EDT -- The economy probably grew at an annual rate of 0.6% in the second quarter, after increasing by 1.2% in the first quarter. The continued slide was likely caused by further efforts to pare down inventories and weak demand for durable goods.
NEW RESIDENTIAL SALES
Friday, July 27, 10 a.m. EDT -- New single-family homes in June probably sold at an annual rate of 920,000, according to the median forecast by S&P's MMS. In May, sales were 928,000, helped by strong sales in both the West and Midwest.