The Week Ahead
Tuesday, July 31, 8:30 a.m. EDT -- Personal income probably rose 0.2% in June, while consumer spending likely grew by 0.3%. That's according to the median forecast of economists surveyed by Standard & Poor's MMS, a unit of The McGraw-Hill Companies. In May, personal income also advanced by 0.2%, and spending jumped by 0.5%.
Tuesday, July 31, 10 a.m. EDT -- The Conference Board's July index of consumer confidence is expected to inch up to 118, from a June reading of 117.9.
PURCHASING MANAGERS' INDEX
Wednesday, Aug. 1, 10 a.m. EDT -- The National Association of Purchasing Management's July index of industrial activity probably rose to 45%, from 44.7%.
Wednesday, Aug. 1, 10 a.m. EDT -- Building outlays in June are expected to advance 0.3% for the second consecutive month.
Thursday, Aug. 2, 10 a.m. EDT -- Manufacturing inventories likely fell for a fifth consecutive month, down 0.4%, after falling 0.3% in May.
Friday, Aug. 3, 8:30 a.m. EDT -- Nonfarm payrolls likely fell by 50,000 jobs in July, with a loss of 75,000 in manufacturing. June payrolls fell by 114,000, with 113,000 cuts coming in manufacturing. The July unemployment rate probably hit 4.6%, with the average workweek holding at 34.3 hours.