The Week Ahead
Monday, Aug. 4, 10 a.m. EDT -- Manufacturing inventories are forecast to be unchanged in June, following two consecutive declines of 0.1%. That's according to the median forecast of economists surveyed by MMS International.
Tuesday, Aug. 5, 10 a.m. EDT -- The Institute for Supply Management's nonmanufacturing-activity index most likely held steady in July, after the index surged to 60.6% in June. Also encouraging in June was a rise in employment for the first time in five months.
PRODUCTIVITY & COSTS
Thursday, Aug. 7, 8:30 a.m. EDT -- Output per hour worked in the second quarter probably increased at a 2.1% annual rate, following a 1.9% rise in the first quarter. Unit labor costs are expected to have grown by 1.5% for a second straight quarter. Strong productivity gains are helping businesses increase output and profits. However, the push for greater efficiency is hampering a recovery in the labor market.
Thursday, Aug. 7, 3 p.m. EDT -- Consumers probably added $6 billion of new debt in June, following a $7.3 billion increase in May. Incentive-laden vehicle deals are the driving force behind the recent borrowing rise.