Key economic data coming this week:
* Today, the Commerce Department will report on personal income and personal spending during March.
* Tuesday, the Commerce Department will report on construction spending during March.
* Tuesday, the National Assn. of Purchasing Management is expected to show manufacturing shrank in April for the ninth straight month. NAPM’s factory index probably registered 44 for the month, higher than March’s 43.1, though still below 50--the line dividing contraction and expansion.
* Wednesday, the Commerce Department will report on orders made to U.S. manufacturers during March.
* Wednesday, the Federal Reserve will issue its regional economic outlook, known as the “beige book,†and will show the recent state of U.S. manufacturing. The report is based on information gathered by the Fed’s 12 district banks.
* Wednesday, Federal Reserve Governor Laurence Meyer will testify to a House Financial Services subcommittee on real estate brokerage activities.
* Wednesday, Federal Reserve Bank of San Francisco President Robert Parry speaks on the role of the Federal Reserve in the economy at a Fed-sponsored breakfast at the Hilton in Costa Mesa.
* Friday, Labor Department report on the unemployment rate for April, which is expected to tick up slightly to 4.4% from 4.3% in March.
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