The Week Ahead
Housing rebound?
New government figures are expected to show that U.S. residential construction picked up slightly in June.
The Commerce Department releases data Tuesday on the number of homes and apartments that builders broke ground on last month. Residential construction slowed in May as builders pulled back in the Northeast and Midwest. Overall, though, home construction has improved much of this year, with single-family houses accounting for much of the gains.
The Fed speaks
The Federal Reserve is scheduled to deliver its latest economic policy update on Wednesday.
The remarks will follow a two-day meeting of the central bank’s policymakers. The Fed wants to see evidence that inflation is ticking up before raising short-term U.S. interest rates again. In December, it raised rates for the first time since 2006, but it has hesitated to follow up with more increases.
Eye on consumers
A new survey should provide insight into the mind-set of U.S. consumers.
The University of Michigan serves up its latest monthly consumer sentiment index on Friday. The June reading declined from the previous month, reflecting deterioration in consumers’ outlook on the economy. Economists project that this month’s index will show another decline in consumer sentiment. Economists monitor the survey because consumer spending accounts for about 70 percent of U.S. economic activity.