This week's major U.S. economic reports (May 2 - May 6)

[mahatmakanejeeves]

THIS WEEK'S MAJOR U.S. ECONOMIC REPORTS & FED SPEAKERS

TIME (ET) REPORT PERIOD ACTUAL MEDIAN FORECAST PREVIOUS

MONDAY, MAY 2
9:45 am S&P Global U.S. manufacturing PMI (final) April 59.7 59.7
10 am ISM manufacturing index April 57.8% 57.1%
10 am Construction spending March 0.8% 0.5%

TUESDAY, MAY 3
10 am Job openings March -- 11.3 million
10 am Quits March -- 4.4 million
10 am Factory orders March 0.9% -0.5%
10 am Core capital goods orders (revision) March -- 0.2%
Varies Motor vehicle sales (SAAR) April -- 13.6 million

WEDNESDAY, MAY 4
8:15 am ADP employment report April 393,000 455,000
8:30 am International trade balance March -$106.7 billion -$89.2 billion
9:45 am S&P Global U.S. services PMI (final) April 54.7 54.7
10 am ISM services index April 58.9% 58.3%
2 pm FOMC statement -- 0.25%-0.50%
2:30 pm Fed Chair Jerome Powell news conference

THURSDAY, MAY 5
8:30 am Initial jobless claims April 30 180,000 180,000
8:30 am Continuing jobless claims April 23 -- 1.41 million
8:30 am Productivity (SAAR) Q1 -3.5% 6.6%
8:30 am Unit labor costs (SAAR) Q1 7.5% 0.9%

FRIDAY, MAY 6
8:30 am Nonfarm payrolls April 400,000 431,000
8:30 am Unemployment rates April 3.5% 3.6%
8:30 am Average hourly earnings April 0.4% 0.4%
8:30 am Labor force participation rate, 25-54 April -- 82.5%
3 pm Consumer credit March $30 billion $42 billion

https://www.chase.com/personal/investments/learning-and-insights/category/markets

Economic outlook

Up next in the markets: May 2-May 6

James Chen
Head of Content Studio, J.P. Morgan Wealth Management

April 27, 2022 | 3 min read

• The state of the job market will be a main focus of this week’s economic news, with the JOLTS report, unemployment rate and jobless claims all scheduled for release.
• Manufacturing activity for April is also on the schedule this week, giving investors more insight into how the economy is doing amid soaring inflation and the war in Ukraine.

Investors will be paying close attention to how the job market is faring this week, with several economic data points pertaining to labor scheduled for release. First out of the gate is the Job Openings and Labor Turnover Survey for March, also known as the JOLTS report. This indicator measures job vacancies across various industries in the U.S. A low reading means the job market remains tight. Also due is ADP’s National Employment report for April.

More of a leading indicator, this measures the change in private employment on a monthly basis. Private employers have been in hiring mode, and more of the same is expected for April. Rounding out the employment news are initial and existing jobless claims for the previous week, and the unemployment rate for April.

Outside of employment, the market will get a better look at how manufacturers are dealing with both ongoing delays in the supply chain and rising input costs, when the Manufacturing Report on Business for April is released. This tracks economic activity in the U.S. manufacturing sector and is seen as a key economic data point.

{snip}