Economy Week Ahead: U.S. Consumers, Housing Market in Focus |

Monday

China’s economic activity is expected to cool further in April after authorities tightened rules to prevent the spread of Covid-19. Economists surveyed by The Wall Street Journal forecast that retail sales, a key gauge of consumer spending, fell 5.4% from a year earlier in April, widening from a drop of 3.4% in March. Industrial production and fixed-asset investment are expected to rise, but at a slower pace than earlier in the year.

Tuesday

U.S. retail sales data for April will show how consumers are responding to high inflation, volatility in financial markets, geopolitical uncertainty, strong job creation and rising wages. Economists expect sales to rise for the fourth straight month, aided in part by a rebound for auto purchases.

Federal Reserve Chairman Jerome Powell joins the WSJ Future of Everything Festival for a conversation on the future of the economy. Markets will be looking for more context and clarity on monetary policy as inflation remains elevated and the broader economic environment appears uncertain.

Wednesday

U.K. inflation, already at a three-decade high, is expected to move up yet again in April, as rising energy costs, a mismatch between supply and demand for many goods and climbing wages add more pressure to consumer prices. The Bank of England forecasts that annual inflation will reach about 10% this year.

Thursday

U.S. existing-home sales fell for the second straight month in March, as rising mortgage rates and climbing prices combined to cool the market. April data from the National Association of Realtors is forecast to show another drop in sales as affordability continues to wane.

Appeared in the May 16, 2022, print edition as ‘Economic Calendar.’

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