A look at some of the key business events and economic indicators upcoming this week:
RACKING UP DEBT
Americans have been ramping up their use of credit this year.
U.S. consumer borrowing, excluding mortgages and other loans secured by real estate, jumped by $23 billion in April from the previous month. The increase pushed total consumer credit to around $4.86 trillion. Economists expect consumer borrowing rose by $20.8 billion in May. The Federal Reserve releases its latest monthly tally of consumer borrowing Monday.
Consumer borrowing, monthly change, seasonally adjusted, billions of dollars:
Dec. 18.8
Jan. 20.1
Feb. 8.2
March 22.8
April 23.0
May (est.) 20.8
Source: FactSet
EYE ON INFLATION
The Labor Department releases its June snapshot of inflation at the consumer level Wednesday.
While inflation remains painfully high, it has been easing in recent months as the Federal Reserve has pressed its interest rate hiking campaign. Consumer prices rose just 4% in May from a year earlier, the lowest 12-month figure in over two years and well below April’s 4.9% annual increase. Economists project the index rose 3.1% in June from a year earlier, which would be the lowest annual increase since March 2021.
Consumer price index, annual percent change, not seasonally adjusted:
Jan. 6.4
Feb. 6.0
March 5.0
April 4.9
May 4.0
June (est.) 3.1
Source: FactSet
HIGH FLYER
Wall Street expects another solid quarterly report card from Delta Air Lines on Thursday.
Analysts predict the company’s second-quarter earnings and revenue increased sharply from a year earlier. In April, Delta reported a $363 million first-quarter loss, as higher spending on fuel and labor overshadowed a sharp rise in revenue. Investors will be watching for an update on how Delta’s bookings are faring during the traditionally busy summer travel season.
Sourse: abcnews.go.com
