This Week: Consumer confidence, US GDP, Campbell Soup earns
A look at some of the key business events and economic indicators upcoming this week:
SPOTLIGHT ON CONSUMERS
Economists project that Americans’ confidence in the economy dimmed slightly this month.
They expect that the Conference Board’s index of consumer confidence, due out Tuesday, fell to 126.5 this month from July’s reading of 127.4. The business research group’s index measures both consumers’ assessment of current economic conditions and expectations for the future.
Consumer confidence, monthly:
Aug. (est.) 126.5
The U.S. economy shifted into a higher gear in the April-June quarter.
Last month the government estimated that the economy, as measured by the gross domestic product, grew by a seasonally adjusted annual rate of 4.1 percent in the second quarter. That would be the strongest quarterly increase since 2014. The Commerce Department delivers its latest estimate of the economy’s growth Wednesday.
GDP, seasonally adjusted annual rate, by quarter:
Q1 2017: 1.8
Q2 2017: 3.0
Q3 2017: 2.8
Q4 2017: 2.3
Q1 2018: 2.2
Q2 2018 (est.): 4.1
Campbell Soup serves up its latest quarterly report card Thursday.
Financial analysts predict the maker of canned soup, Pepperidge Farm cookies and V8 juice will report that its fiscal fourth-quarter earnings and revenue declined versus a year earlier. Investors will be listening for an update on the company’s expansion into the faster-growing snack food category.