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The Week Ahead


Business Week Index

THE WEEK AHEAD

EXISTING-HOME SALES

Tuesday, May 27, 10:00 a.m.EDT -- Sales of existing single-family homes are

expected to have declined to an annual rate of 4.05 million in April, down from

4.10 million in March, according to a survey of forecasts taken by MMS

International, one of the McGraw-Hill Companies. Housing demand appears to be

holding up fairly well, despite the rise in mortgage rates through April. Rates

have since declined.

CONSUMER CONFIDENCE

Tuesday, May 27, 10:00 a.m.EDT -- The Conference Board's index of consumer

confidence is expected to have risen to 117.3 in May from 116.8 in April, based

on the MMS survey. The rise is expected partly because the University of

Michigan's preliminary May index of consumer sentiment rose to a record high.

DURABLE GOODS ORDERS

Wednesday, May 28, 8:30 a.m.EDT -- The order books of durable goods

manufacturers are expected to have shown a 1% increase in April, compared with

March, says the MMS survey. That rise would follow a 3% drop in March. Despite

that decline, orders remain on a rising trend, with particular strength in

nondefense capital equipment excluding commercial aircraft. Orders and

shipments might have been adversely affected by auto-industry strikes.

GROSS DOMESTIC PRODUCT

Friday, May 30, 8:30 a.m.EDT -- First-quarter real GDP is expected to be

revised slightly higher, to 5.7%, up from 5.6% originally reported. The

Commerce Dept. will also report first-quarter profits. Aftertax earnings are

expected to have risen at an annual rate of 2.3% from the fourth quarter.

NEW-HOME SALES

Friday, May 30, 10:00 a.m.EDT -- Sales of new single-family homes are expected

to have dipped to an annual rate of 800,000 in April, based on the MMS survey,

from 814,000 in March. In early May, builders reported a slight drop-off in

demand.


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