US DATA: (3 of 4) Other indicators for manufacturing and services
scheduled for release during the week are the Chicago Purchasing
Managers Business Barometer and the Dallas Fed’s Texas Manufacturing
Outlook, both on Tuesday. Coming off the holiday weekend, and with more
closely-watched indicators in the days ahead, these two reports will
likely get little attention. The report on new orders for factory goods
in April on Thursday should reflect the softness in transportation that
was present in the 3.6% decline in the data for durable goods orders.
Prices for non-durables should be a bit higher due to petroleum and
chemicals prices. Revised first quarter data for productivity and costs
will be released on Thursday. The revisions are likely to be slight as
the headline GDP number of up 1.8% released on May 26 was the same as in
the preliminary release, albeit with some revisions in the details. The
Conference Board’s Consumer Confidence Index for May is set for Tuesday.
Confidence improved in the month along with more stable gasoline prices,
but it is still fragile and could easily deteriorate again.