Factory goods, homes in rebound ; Fed still expected to cut interest rates

Bookings for durable goods, such as automobiles and appliances, may have risen 1 percent in May, according to the median of 54 economists' forecasts in a Bloomberg News survey in advance of Wednesday's Commerce Department report. New home sales, to be issued the same day, may have run at a...

Full description

Saved in:
Bibliographic Details
Published inOakland tribune (Oakland, Calif. 1991)
Main Author Vince Golle and Alex Tanzi, Bloomberg News
Format Newspaper Article
LanguageEnglish
Published Oakland, Calif Bay Area News Group 24.06.2003
Online AccessGet full text

Cover

More Information
Summary:Bookings for durable goods, such as automobiles and appliances, may have risen 1 percent in May, according to the median of 54 economists' forecasts in a Bloomberg News survey in advance of Wednesday's Commerce Department report. New home sales, to be issued the same day, may have run at a 1.04 million-unit annual rate, the third-fastest ever, economists said. The Fed will reduce the overnight bank lending rate to 1 percent from 1.25 percent, based on the median forecast of 150 economists and analysts in a Bloomberg News survey. The New York-based Conference Board may report today that consumer confidence declined this month to 82 from 83.8, according the median forecast in a Bloomberg survey. A separate gauge of consumer sentiment from the University of Michigan may show a final reading of 87.5 for June, down from May's 92.1. Lack of job creation may be weighing on sentiment, economists said.
ISSN:1068-5936