A look at some of the key business events and economic indicators upcoming this week:
HOUSING BELLWETHER
Construction spending has been slowing recently, reflecting weakness in homebuilding.
Spending fell 1.3% in June, the largest drop in seven months. Spending dropped sharply for government projects, in addition to home and nonresidential construction. Did the trend continue in July? Find out Tuesday, when the Commerce Department serves up its latest tally of U.S. construction spending.
Construction spending, monthly percent change, seasonally adjusted:
Feb. 1.0
March 0.1
April 0.9
May -0.5
June -1.3
July (est.) 0.3
Source: FactSet
ECONOMIC SNAPSHOT
The Federal Reserve releases its latest Beige Book on Wednesday.
The report is a snapshot of business conditions in each of the Fed’s 12 regional bank districts. July’s report showed that despite worries about the impact of U.S. trade conflicts, the overall economy remained solid. Will the Fed have a different outlook in its latest snapshot?
ALL ABOUT JOBS
Economists predict hiring in the U.S. slowed in August for the second straight month.
They expect the Labor Department will report Friday that nonfarm employers added 150,000 jobs in August. U.S. employers slowed their hiring in July, but still added 164,000 jobs to an economy that appears to be in shape to extend its decade-long expansion.
Nonfarm payrolls, monthly change, seasonally adjusted:
March 153,000
April 216,000
May 62,000
June 193,000
July 164,000
Aug. (est.) 150,000
Source: FactSet
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