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Consumer confidence, construction spending, nonfarm payrolls

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Consumer confidence, construction spending, nonfarm payrolls

The Conference Board issues its latest U.S. consumer confidence index TuesdayBy The Associated PressAugust 30, 2021, 4:10 AM• 2 min readShare to FacebookShare to TwitterEmail this articleA look at some of the key business events and economic indicators upcoming this week:CONFIDENCE WANING?The Conference Board issues its latest monthly index of U.S. consumer confidence Tuesday.Economists project that this month’s index slipped to 124 from a reading of 129.1 in July. That would mark the first monthly drop in the index since December. A reading of 90 or better reflects a healthy economy. The index can provide clues about consumer spending, which accounts for 70% of economic activity.Consumer confidence, by month:March 114.9April 117.5May 120.0June 128.9July 129.1Aug. (est.) 124.0Source: FactSetEYE ON HOUSINGEconomists project that U.S. construction spending rose in July for the second month in a row.The Commerce Department is expected to report Wednesday that spending increased 0.4% last month. That would follow an increase of 0.1% in June and drop of 0.2% in May, as single-family home construction rose, while spending on apartments and other multifamily developments was flat. While demand for new homes remains strong, supply chain disruptions and rising costs have led many builders to limit some sales.Construction spending, monthly percent change, seasonally adjusted:Feb. -1.1March 1.0April 0.3May -0.2June 0.1July (est.) 0.4Source: FactSetALL ABOUT JOBSEconomists predict hiring in the U.S. slowed this month for the first time since April.They expect the Labor Department will report Friday that nonfarm employers added 800,000 jobs in August. That would follow three straight months of increases as employers seized upon an easing of pandemic-related restrictions and more consumer demand for goods and services. In recent weeks, however, the fast-spreading delta variant has stoked concern about another round of shutdowns or other restrictions.Nonfarm payrolls, monthly change, seasonally adjusted:March 785,000April 269,000May 614,000June 938,000July 943,000Aug. (est.) 800,000Source: FactSet


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