It’s a busy week for economic data in the United States, with the Federal Reserve’s interest rate decision among the highlights.

Here at home, the flow of economic news is much lighter.

On Tuesday, Statistics Canada releases labour data for April, including employment insurance, payroll employment, earnings and hours.

On Thursday, Statistics Canada releases May results for industrial products and raw materials. Economists see the industrial product price index falling 0.4%; the raw materials index is expected to gain 0.6%.

On Friday, Statistics Canada releases GDP data by industry for April. Economists expect GDP to rise 0.2%, compared with a 0.3% gain in March.

South of the border

On Monday, the U.S. National Association of Realtors reports on existing home sales for May. Economists expect sales of 5.97 million on an annualized basis, down 0.3% from 5.99 million in April.


On Tuesday, the U.S. Conference Board releases its consumer confidence index for June. Economists expect the index to slip to 105.5 from 108.0 in May.

Also Tuesday, the U.S. Commerce Department releases new home sales for May. Economists expect sales of 925,000 on an annualized basis, down 5.7% from 981,000 in April.

On Wednesday, the U.S. Department of Commerce releases May data on durable goods orders. Economists forecast a drop of 1% over April.

On Thursday, the Federal Reserve’s Federal Open Market Committee announces its decision on U.S. interest rates. The Fed is widely expected to keep the benchmark rate at 5.25%.

As well, the U.S. Department of Commerce releases final gross domestic product data for the first quarter. Economists expect an annualized gain of 0.8%.

The U.S. Department of Labor reports on initial jobless claims for the week ending June 23. Economists expect claims of 315,000, down from 324,000 in the previous week

On Friday, the U.S. Department of Commerce reports on personal income and spending for May. Economists expect a gain of 0.6% in personal income and personal spending to rise 0.7%.

As well, the Chicago purchasing managers’ index is released for June. Economists expect the index reading to slip to 57.5 from 61.7 the month before.

Corporate earnings

On Wednesday, AGF Management releases its second-quarter results.

Other companies scheduled to release earnings include:

  • Niko Resources;
  • Oracle;
  • Nike;
  • Research In Motion;
  • Palm;
  • Empire Co.;
  • General Mills; and
  • Monsanto.