This Week: Durable goods, Constellation Brands results, jobs
A look at some of the key business events and economic indicators upcoming this week:
The Commerce Department issues its latest monthly snapshot of business orders for U.S. durable goods Tuesday.
Orders to U.S. factories for big-ticket manufactured goods have mostly risen in recent months, aided by growth in the volatile aircraft category. Economists project that February’s durable goods orders declined 0.5 percent. That would be the first monthly drop since October.
Durable goods orders, monthly percent change, seasonally adjusted:
Feb. (est.) -0.5
Wall Street expects that Constellation Brands closed out its last fiscal year on a weak note.
Financial analysts predict the beverage company will report Thursday that its fourth-quarter earnings and revenue declined from a year earlier. That would follow two straight quarters of higher earnings and revenue for the owner of the Corona beer, Robert Mondavi wines and other brands.
JOBS REBOUND SEEN
Economists predict hiring in the U.S. rebounded in March after a steep drop the previous month.
They expect the Labor Department will report Friday that nonfarm employers added 177,500 jobs in March. That would be a sharp increase from February, when employers added just 20,000 jobs. Most economists attributed the paltry job gains in February on harsh winter weather and other temporary factors.
Nonfarm payrolls, monthly change, seasonally adjusted:
March (est.) 177,500