Economy Week Ahead: Hiring and Trade in Focus


New Mexico state Sen. Michael Padilla’s office hosted a job fair in Albuquerque in July.


Albuquerque Journal/Zuma Press


Economists surveyed by The Wall Street Journal expect the Institute of Supply Management and S&P Global to release new purchasing managers’ indexes showing that economic activity among manufacturers slowed in July.

The Commerce Department is expected to report that construction spending picked up in June.


The Labor Department is expected to report that job openings declined for the third consecutive month in June but remained historically elevated.


Economists expect the Institute for Supply Management and S&P Global to report that activity among services providers in the U.S. rose modestly in July.

New orders for manufactured goods are estimated to have slowed in June, reflecting that demand for goods from consumers and businesses cooled a bit as economic growth loses steam.


The Bank of England is expected to raise its key interest rate for the sixth time, to 1.75% from 1.25%. That would be a larger move than the previous five, each of which were of a quarter percentage point. It is also expected to outline plans to sell government bonds acquired during its stimulus programs. That would make it the first major central bank to reverse the process by selling bonds rather than by letting them mature and not reinvesting the proceeds.

New applications for U.S. unemployment benefits are estimated to have edged lower in the week ended July 30. Jobless claims have trended upward in recent weeks, hitting the highest point of the year in mid-July.

The U.S. trade deficit is estimated to have narrowed in June, for the third consecutive month. The gap shrank in May as U.S. households spent less on imported goods and exports jumped on energy shipments.


Economists estimate that U.S. employers added jobs at a robust pace in July, but fewer than in June, adding to signs of slowing U.S. economic growth. Analysts expect the Labor Department report to show a gain of 250,000 jobs in July, with the unemployment rate holding at 3.6% for the fifth month in a row.

Write to Bryan Mena at

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Appeared in the August 1, 2022, print edition as ‘Economic Calendar.’

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