The Week Ahead
EMPLOYMENT COST INDEX Tuesday, July 30, 8:30 a.m.EDT -- Wage and benefit costs are expected to have risen 0.8% in the second quarter, according to economists surveyed by MMS International, one of The McGraw-Hill Companies. The index rose 0.7% in the first quarter. SINGLE-FAMILY HOME SALES Tuesday, July 30, 10 a.m.EDT -- June sales of new houses are projected to dip to an annual rate of 780,000, from 828,000 in May. CONSUMER CONFIDENCE Tuesday, July 30, 10 a.m.EDT -- Economists look for the Conference Board's July index to rise to 98.6, up from 97.6 in June. GROSS DOMESTIC PRODUCT Thursday, Aug. 1, 8:30 a.m.EDT -- Real GDP is expected to have grown at a 4% annual rate in the second quarter, up from 2.2% in the first quarter. PURCHASING MANAGERS' INDEX Thursday, Aug. 1, 10 a.m.EDT -- The nation's purchasing managers will report a rise in their July index of industrial activity, to 55%, up from 54.3% in June, the economists forecast. CONSTRUCTION SPENDING Thursday, Aug. 1, 10 a.m.EDT -- June construction outlays are expected to show a 0.5% gain, following a 0.9% drop in May. LABOR MARKETS Friday, Aug. 2, 8:30 a.m.EDT -- Nonfarm payrolls in July are projected to have increased by 200,000, after June's 239,000 gain. The jobless rate is expected to have edged up to 5.4%., from 5.3%. PERSONAL INCOME Friday, Aug. 2, 8:30 a.m.EDT -- Personal income in June probably jumped 0.9%, reflecting the month's surges in hourly earnings and the workweek. FACTORY INVENTORIES Friday, Aug. 2, 10 a.m.EDT -- Manufacturers' inventories were nearly flat in June, after a 0.2% dip in May.
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