Figures on growth, manufacturing, housing and employment this week are expected to point to a U.S. economy that's in no danger of slowing much, even if the Federal Reserve raises interest rates next week. Gross domestic product, the total output of goods and services, probably expanded at a 4.2% annual rate in the first quarter, higher than the government's previous estimate of 4.1%. The Commerce Department is scheduled to release the report, the final first-quarter GDP estimate, on Friday.
The strength in the economy is widespread. Factory orders for big-ticket goods, ranging from aircraft and steel girders to home appliances and autos, probably increased 0.9% in May after falling 2.1% in April. The Commerce Department is scheduled to release the report Thursday. Manufacturers are benefiting from strong domestic demand as well as a rebound in export orders.