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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.
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
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.
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.