Economic Data Next Week

<<...On Tuesday, investors hope to get some clues as the direction of consumer spending from the Conference Board's August consumer confidence index, and analysts are calling for a modest decline. The Federal Reserve minutes also come out that day.

On Wednesday, Wall Street will be reading the preliminary second-quarter gross domestic product numbers with interest to see if personal spending has slowed, and how business investment and government spending fared. Consumers will also be in focus Wednesday, when the Commerce Department releases its personal income and personal spending reports for July. Also that day, the department will release its factory orders report for last month.

Perhaps the most important report this week comes out Friday, when the Labor Department releases its nonfarm payroll data for August. In July, the report showed slowing momentum and volatility in payroll growth, which is expected to continue. The pace of business spending will also be measured on Friday when the Institute for Supply Management releases its survey of activity in the manufacturing sector, covering new orders, production, employment and inventories.
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