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The Week Ahead


Business Week Index

THE WEEK AHEAD

EMPLOYMENT COST INDEX

Tuesday, July 29, 8:30 a.m.EDT -- Wages and benefits likely rose 0.8% in the

second quarter, says the median forecast of economists polled by MMS

International, one of The McGraw-Hill Companies. Labor costs rose a subdued

0.6% in the first quarter.

CONSUMER CONFIDENCE

Tuesday, July 29, 10 a.m.EDT -- The Conference Board's index of consumer

confidence likely rose to 130 in July, after rising to a 28-year high of 129.6

in June.

SINGLE-FAMILY HOME SALES

Wednesday, July 30, 10 a.m.EDT -- New single-family home sales probably fell

to an annual rate of 815,000 in June, after surging 7.1% in May, to a rate of

825,000.

GROSS DOMESTIC PRODUCT

Thursday, July 31, 8:30 a.m.EDT -- The MMS survey expects that real gross

domestic product grew at an annual rate of 1.8% in the second quarter, after

surging 5.9% in the first. Consumer spending led a slowdown in final demand,

but inventory accumulation remained hefty last quarter.

EMPLOYMENT

Friday, Aug. 1, 8:30 a.m.EDT -- Nonfarm payrolls likely grew by 200,000 in

July, after rising 217,000 in June, says the MMS report. However, the total may

be lower because summer school closings, which should have been captured in the

June data, were not. So educational payrolls likely dropped in July. The

unemployment rate probably remained at 5%.

PERSONAL INCOME

Friday, Aug 1, 8:30 a.m.EDT -- Personal income and consumer spending each

probably increased by 0.4% in June. Both income and spending rose by 0.3% in

May.

NAPM SURVEY

Friday, Aug. 1, 10 a.m.EDT -- The National Association of Purchasing

Management's business index likely edged up slightly, to 56% in July, from

55.7% in June.


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