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This Week: Consumer confidence, General Mills earns, GDP

By The Associated PressJune 24, 2019
FILE- In this July 3, 2018, file photo, a shopper carries bags in San Francisco. Consumer confidence improved in May 2019, even as the stock market fell sharply amid escalating trade tensions between the U.S. and China. The market has reversed course in June, recovering all of May’s losses. Still, analysts expect the June consumer confidence reading fell from last month. (AP Photo/Marcio Jose Sanchez, File)
FILE- In this July 3, 2018, file photo, a shopper carries bags in San Francisco. Consumer confidence improved in May 2019, even as the stock market fell sharply amid escalating trade tensions between the U.S. and China. The market has reversed course in June, recovering all of May’s losses. Still, analysts expect the June consumer confidence reading fell from last month. (AP Photo/Marcio Jose Sanchez, File)

A look at some of the key business events and economic indicators upcoming this week:

SPOTLIGHT ON CONSUMERS

The Conference Board issues this month’s snapshot of U.S. consumer confidence Tuesday.

Consumer confidence improved in May, even as the stock market fell sharply amid escalating trade tensions between the U.S. and China. The market has reversed course in June, recovering all of May’s losses. Still, analysts expect the June consumer confidence reading fell from last month.

Consumer confidence, by month:

Jan. 121.7

Feb. 131.4

March 124.4

April 129.2

May 134.1

June (est.) 131.0

Source: FactSet

UNEVEN FINISH

Wall Street expects that General Mills’ closed out its last fiscal year with an uneven finish.

Financial analysts predict the maker of Cheerios and Yoplait yogurt will report Wednesday that its fiscal fourth quarter earnings declined from a year earlier, even as revenue grew. Investors will be listening for an update on sales at Blue Buffalo, the natural pet food brand it acquired last year.

HIGH-WATER MARK?

The Commerce Department delivers its final estimate of U.S. first quarter economic growth Thursday.

Economists project that the gross domestic product increased at a 3.1% seasonally adjusted annual rate in the first three months of 2019. Many economists expect the January-March quarter will be the high-water mark for the year, however.

GDP, seasonally adjusted annual rate, by quarter:

Q4 2017: 2.3

Q1 2018: 2.2

Q2 2018: 4.2

Q3 2018: 3.4

Q4 2018: 2.2

Q1 2019 (est.): 3.1

Source: FactSet

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