The Federal Reserve issues its April tally of U.S. consumer borrowing Monday
A look at some of the key business events and economic indicators upcoming this week:
BORROW AND SPEND
The Federal Reserve issues its April snapshot of U.S. consumer borrowing Monday.
The tally, which excludes mortgages and other loans secured by real estate, is expected to show consumer borrowing increased by $20 billion in April, less than March’s $25.8 billion rise. That gain in March pushed total consumer credit to a record $4.24 trillion. Consumer borrowing is watched closely for signals about households’ willingness to borrow to finance their spending.
Consumer credit, monthly change, seasonally adjusted, billions of dollars:
April (est.) 20
Wall Street expects that GameStop’s latest quarterly report card will show a little bit less red ink.
Analysts predict the company will report Wednesday that it narrowed its loss in the February-April quarter versus the same period last year. The video game retailer’s shares are up more than 1,200% this year amid a social-media driven investment frenzy. It’s been working to transform itself into a more online-focused company. GameStop serves up its fiscal first-quarter results Wednesday.
A gauge of U.S. consumer prices is expected to show inflation increased again last month.
The Labor Department’s consumer price index, due out Thursday, is projected to show a gain of 4.6% for the 12 months ended in May. That would be the fastest pace since a 4.9% increase in the 12 months that ended in September 2008. Prices have been rising this year, unsettling financial markets and raising concerns that higher inflation could weaken the economic recovery.
Consumer price index, annual percent change, not seasonally adjusted:
May (est.) 4.6