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US Week Ahead: GDP, Consumer Conf, Personal Income/Spending
We forecast the May Consumer Confidence survey moved three points higher to 71.0. The preliminary May U. of Michigan Consumer Sentiment survey rose to the highest level in almost six years as rising home values, record stock prices, and lower gasoline prices boosted household wealth. We anticipate that the Consumer Confidence report will be impacted by these themes as well, and as usual, we look closely at the labour-market-related information in the report as an early indicator of May payroll gains. Personal income likely increased 0.1% in April. Wage gains were unimpressive given only a slight increase in average ... (full story)
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