The Week Ahead
Monday, June 3, 10 a.m. EDT -- Building outlays are forecast to have inched up 0.1% in April, after a 0.8% decline during March. That's according to the median forecast of economists surveyed by Standard & Poor's MMS, a unit of The McGraw-Hill Companies. Commercial construction remains a drag on overall spending, while residential building continues to grow.
PURCHASING MANAGERS' INDEX
Monday, June 3, 10 a.m. EDT -- The Institute for Supply Management's May industrial-activity index was most likely virtually unchanged at 54%, from 53.9% in April.
Friday, June 7, 8:30 a.m. EDT -- Nonfarm payrolls in May probably grew by 68,000, after adding 48,000 jobs in April. Factory payrolls are forecast to have fallen by another 10,000 jobs. The unemployment rate most likely held at 6%, and the average workweek probably inched back to 34.2 hours, after slipping to 34.1 hours during April. While employers hesitate to add full-time workers, temporary jobs are rising strongly.
Friday, June 7, 3 p.m. EDT -- Consumers probably piled up another $5.4 billion of new debt in April. During March, consumer debt grew by $4.6 billion. In the first quarter, installment credit rose $18.9 billion. Revolving debt, made up mostly of credit cards, rose at a sluggish pace, but strong vehicle sales pushed nonrevolving debt up by $15.5 billion during the quarter.