This week in business: Carnival earnings, consumer confidence and consumer spending


Here’s a look at some of the key business events and economic indicators coming up this week:

Carnival proceeds

Carnival Corp. will report its second-quarter earnings before the call on Monday.

Analysts had predicted the cruise line operator lost 34 cents in the session, its smallest loss since the pandemic brought the industry to a standstill three years ago. During the same period last year, Carnival lost $1.64 billion on sales of $2.4 billion. Revenue is expected to double to $4.8 billion in the second quarter of this year.

Are consumers trustworthy?

The Conference Board released its consumer confidence index for June on Tuesday.

Consumer confidence fell for the second straight month in May, as Americans, especially older adults, became more pessimistic about the job market amid rising worries about inflation. Economists said the measure had risen to 103.8 in June. A reading of 90 or higher indicates a healthy economy.

Consumer confidence per month:

January 106.0

February 103.4

March 104.0

April 103.7

May: 102.3

June: 103.8

Source: FactSet

Cost data

On Friday, the Commerce Department will release consumer spending and inflation data for May.

Prices rose in April and consumer spending rose again, a sign that inflation is high in the economy. The index, which is closely watched by the Federal Reserve, showed a 0.4% rise in prices from March to April. Despite this, spending rose 0.8% from March to April. Analysts predict that spending will rise again in May.

Consumer spending, monthly percent change, seasonally adjusted:

December: 0.0

January: 1.9

February: 0.1

March: 0.1

April: 0.8

May: 0.3


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