Business Week Index: THE WEEK AHEAD

BusinessWeek Index: THE WEEK AHEAD

HOUSING STARTS

Tuesday, June 20, 8:30 a.m. -- Housing starts likely stood at an annual rate of

1.23 million in May, a bit less than their 1.24 million pace in April,

according to the median forecast of economists surveyed by MMS International,

one of the McGraw-Hill Cos. The drop is suggested by the decline in

construction jobs and hours worked in May. Because of the recent fall in

mortgage rates, housing starts may rebound in coming months.

INTERNATIONAL TRADE

Wednesday, June 21, 8:30 a.m. -- The foreign-trade deficit for goods and

services likely narrowed slightly in April, to $9 billion, down from $9.1

billion in March. The MMS survey expects little change in either exports or

imports. In March, exports rose 5%, to hit a record $65.3 billion, but imports

also jumped, by 4.3%, to set a high of $74.5 billion. The trade deficit could

have worsened in April, however: Japan has already reported that its trade

surplus with the U.S. widened by 3% for the month. The April report will also

include revisions to historical trade data.

FEDERAL BUDGET

Wednesday, June 21 -- The federal government is likely to report a deficit of

$37.5 billion in May, wider than the $32.1 billion of May, 1994. In April,

Washington posted a record surplus of $49.7 billion. The deficit for fiscal

1995, which began last October, is on track to total far less than last year's

$203 billion. In fact, the deficit could slip to about $165 billion, the

smallest budget deficit in six years.

DURABLE GOODS ORDERS

Friday, June 23, 8:30 a.m. -- New orders taken by durable-goods manufacturers

probably rose a small 0.2% in May, forecasts the MMS report. If so, that would

be the first increase since January. Orders in April fell a steep 4%, led by

declining motor-vehicle demand. The backlog of unfilled orders probably fell by

about 0.4% in May, the same drop as in April.