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The Week Ahead


Business Week Index

THE WEEK AHEAD

EXISTING HOME SALES

Tuesday, May 28, 8:45 a.m.EDT -- Sales of existing homes probably fell to an

annual rate of 4.03 million in April, according to the median forecast of

economists surveyed by MMS International, one of The McGraw-Hill Companies.

Sales had increased 6.9% in March, to a 4.21 million pace, but higher mortgage

rates are starting to chip away at demand.

CONSUMER CONFIDENCE

Tuesday, May 28, 10 a.m.EDT -- The Conference Board's index of consumer

confidence likely slipped to 101.8 in May, after jumping nearly seven points in

April, to a 105.3 reading. Consumers' assessment of the current economic

situation surged to 118.2 in April, from 110 in March.

GROSS DOMESTIC PRODUCT REVISION

Thursday, May 30, 8:30 a.m.EDT -- The MMS median forecast for the first

revision in real GDP expects no change in the initial growth rate of 2.8% (at

an annual rate) for the first quarter. However, the upward revisions to

February and March retail sales suggest that consumer spending may have been

stronger last quarter than first thought. The economy grew at just a 0.5% rate

in 1995's fourth quarter. Aftertax profits likely rose 1.1% in the first

quarter from the fourth. That's slightly less than the 1.9% gain in the fourth

quarter.

NEW HOME SALES

Thursday, May 30, 10 a.m.EDT -- Sales of new single-family homes probably

rebounded to an annual rate of 683,000 in April, after plunging 7.6% in March

to a 672,000 rate.

PERSONAL INCOME

Friday, May 31, 8:30 a.m.EDT -- Personal income probably increased by a solid

0.4% in April, projects the MMS survey. However, consumer spending was likely

up a smaller 0.2% for the month, as services offset a 0.3% drop in retail goods

purchases. In March, personal income increased by 0.5%, while spending jumped

0.6% on strong motor-vehicle sales.


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