Economy Week Ahead: Consumer Confidence, Spending, Inflation
May 24 2020 - 3:30PM
Dow Jones News
By WSJ Staff
Measures of confidence, spending and inflation highlight the
week's economic data.
Tuesday
The Conference Board's U.S. consumer-confidence index for May is
expected to weaken, reflecting more layoffs and a darkening
outlook.
Thursday
The Bank of Korea releases a policy statement. Economists are
looking for more stimulus alongside downgrades to growth and
inflation forecasts.
Eurozone businesses suffered the sharpest decline in confidence
on record as coronavirus-related lockdowns tightened in April, but
a May survey from the European Commission is expected to record a
modest rebound as some restrictions are lifted. Even so, the
Economic Sentiment Indicator will likely point to pessimism of a
depth that would usually signal a big pullback in investment and
hiring.
Weekly U.S. jobless claims have steadily fallen from a peak of
nearly 7 million at the end of March. But millions more
applications for unemployment insurance would still reflect a
recession-level deterioration of the labor market.
U.S. new orders for durable goods in April are expected to
reflect a sharp pullback in consumer demand and business investment
during the month.
Friday
Eurozone inflation has weakened since governments' started to
impose lockdowns in an effort to limit the spread of the novel
coronavirus, and figures to be released by the European Union's
statistics agency are expected to show that consumer prices were
lower in May than a month earlier, and almost flat on the year.
U.S. consumer spending and inflation data for April are expected
to show another big drop-off in household purchases and an emerging
disinflationary trend.
(END) Dow Jones Newswires
May 24, 2020 15:15 ET (19:15 GMT)
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