The Week Ahead
Tuesday, May 28, 8:30 a.m. EDT -- Personal income is forecast to have risen 0.3% during the month of April, after a 0.4% rise in March. That's based on the median forecast of economists surveyed by Standard & Poor's MMS, a unit of The McGraw-Hill Companies. April consumer expenditures probably rose a robust 0.7%, following a 0.4% increase in March. Continued strength in real wage growth and early signs of an improving labor market have enabled consumer demand to remain strong.
Tuesday, May 28, 10 a.m. EDT -- The Conference Board's May confidence index probably inched higher, to 109, after falling to 108.8 in April. Consumers' view of current conditions dragged last month's overall index lower, due to worries about employment prospects and higher oil prices. As the recovery takes hold, confidence should improve.
EXISTING HOME SALES
Tuesday, May 28, 10 a.m. EDT -- Sales of existing homes in April are expected to have slipped 0.9%, to an annual rate of 5.35 million, from 5.4 million homes in March. Home sales should soften from their recent levels,
after a mild winter and low interest rates spurred sales during the first quarter.
Friday, May 31, 10 a.m. EDT -- Manufacturing inventories probably declined 0.3% in April, after a 0.6% slide in March. Inventories have continued to fall faster than anticipated because of strong consumer demand.