Consumer borrowing, Campbell Soup earns, consumer prices
Jun 5, 2022, 9:10 PM | Updated: 9:32 pm
A look at some of the key business events and economic indicators upcoming this week:
JUST CHARGE IT
The Federal Reserve issues its latest snapshot of U.S. consumer borrowing Tuesday.
The tally, which excludes mortgages and other loans secured by real estate, is expected to show consumer borrowing increased by $28 billion in April. That would be down sharply from $52.4 billion in March, the biggest monthly increase since December 2010. March’s gain lifted total consumer credit to around $4.54 trillion.
Consumer credit, monthly change, seasonally adjusted, billions of dollars:
Nov. 32.0
Dec. 23.0
Jan. 17.0
Feb. 37.7
March 52.4
April (est.) 28.0
Source: FactSet
Soup’s on
Wall Street expects an improved showing from Campbell Soup’s latest quarterly report card.
Analysts predict the company’s February-April earnings and revenue increased versus the same quarter last year. Campbell’s earnings and revenue had fallen in the previous two quarters. The maker of canned soup, Pepperidge Farm cookies and V8 juice said in March it expected to do better in the second half of its current fiscal year as supply and labor constraints improve. Campbell Soup serves up its fiscal third-quarter results Wednesday.
TRACKING INFLATION
The Labor Department delivers its latest monthly reading of consumer inflation Friday.
Prices for U.S. consumers jumped 8.3% in April from a year earlier. March’s 8.5% surge was the highest since 1981. On a monthly basis, prices rose 0.3% from March to April, the smallest rise in eight months. Economists predict the consumer price index eased to 7.2% in the 12 months ended in May.
Consumer price index, annual percent change, not seasonally adjusted:
Dec. 7.0
Jan. 7.5
Feb. 7.9
March 8.5
April 8.3
May (est.) 7.2
Source: FactSet
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
