Business Week Index: THE WEEK AHEAD
BusinessWeek Index: THE WEEK AHEAD
Monday, July 24 -- The Treasury Dept. will probably report a surplus of $15.5
billion in June, according to the median forecast of economists surveyed by MMS
International, one of the McGraw-Hill Companies. Receipts likely rose last
month since quarterly tax payments are due in the last month of each quarter.
Washington was in the black by $14.8 billion in June, 1994.
Tuesday, July 25, 8:30 a.m. -- Wages and benefits in the private sector
probably increased by 0.8% in the second quarter, faster than the 0.6% gain in
the first quarter. That's suggested by the recent pickup in wage growth. Still,
for the year ended in the second quarter, compensation likely grew by 2.9%, the
same modest advance as in the first.
Tuesday, July 25, 10 a.m. -- The Conference Board's index of consumer
confidence likely bounced back to a reading of 94 in July after the index
dropped to 92.8 in June from 102 in May. A stronger job market is boosting
DURABLE GOODS ORDERS
Thursday, July 27, 8:30 a.m. -- New orders for durable goods probably rose 0.5%
in June, says the MMS survey. Orders jumped an unexpected 2.7% in May, after
falling for three months in a row.
GROSS DOMESTIC PRODUCT
Friday, July 28, 8:30 a.m. -- The MMS median forecast expects that the economy
grew at an annual rate of 0.5% in the second quarter. But the forecasts range
from a 1% drop to a 2.7% rise, which would equal the solid increase in
first-quarter GDP. Slower inventory growth and a wider foreign trade deficit
probably held down GDP growth. Demand, though slower than in 1994, should show
no signs of slipping to a recessionary crawl. Inflation, as measured by the GDP
deflator, likely rose at a 2.8% annual rate from 3.1% in the first quarter.