Business Week Index: THE WEEK AHEAD
BusinessWeek Index: THE WEEK AHEAD
Monday, July 3, 8:30 a.m. -- Personal income likely fell by 0.1% in May, says
the median forecast of economists surveyed by MMS International, one of the
McGraw-Hill Cos. If so, that would be the first decline in income in 11/2
years. Income rose 0.3% in April. A drop in payrolls suggests that wages and
salaries were weak in May. Consumer spending likely rose 0.5% in May, after a
0.3% advance in April.
Monday, July 3, 8:30 a.m. -- Outlays for building projects were probably
unchanged in May. That's suggested by the drops in housing starts and
construction jobs for the month. Spending rose by 0.4% in April, but had
declined in each of the previous three months.
Monday, July 3, 10 a.m. -- The National Association of Purchasing Management's
business index likely stood at 47% in June, following a 46.1% reading in May,
according to the MMS survey. Both levels would be below the 50% mark,
suggesting that industry is contracting.
Thursday, July 6, 8:30 a.m. -- The government's composite index of leading
indicators probably fell by 0.2% in May. Rising unemployment claims and no
change in the factory workweek contributed to the weakness. The index has not
risen since December, 1994. In April, it fell a steep 0.6%, raising talk of a
Friday, July 7, 8:30 a.m. -- The MMS survey calls for a 125,000 gain in nonfarm
payrolls in June. That would more than recoup the surprising 101,000 decline in
jobs in May. Manufacturing, however, is expected to continue paring payrolls.
The MMS economists expect factory job losses to total 10,000, on top of 56,000
layoffs in May. The June unemployment rate probably rose to 5.8%, from 5.7% in