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Economic Week ahead: factories, services, jobs

On May 28, a wanted sign was hung in front of a restaurant in Los Angeles.


Photo:

Frederick J. Brown / Agence France-Presse / Getty Images

Friday’s US Employment Report highlights this week’s economic data.

Monday

China’s official manufacturing index is expected to stabilize at 51.1 in May, according to the median forecast of economists surveyed by The Wall Street Journal. An official survey of purchasers at factories in China has exceeded the 50 mark that separates the expansion and contraction of activities since February 2020. Strong demand from overseasBut in recent months, global semiconductor shortages, international logistics congestion, and rising shipping costs have put pressure on manufacturers’ businesses.

Tuesday

Eurozone consumer prices rose at the fastest pace in two years in April, but the 1.6% rise was slower than in the United States, where inflation concerns are rising. The European Central Bank expects inflation to exceed its 2% target, albeit temporarily, as demand recovers later this year and the regional economy recovers more completely from the new coronavirus.

According to a survey conducted by the Institute for Supply Management of purchasing personnel at US factories, it is highly likely that activities in May have expanded steadily. After a pandemic-related outage, production recovered rapidly, but manufacturers are now facing consumers and consumers amid material shortages, rising commodity prices, shipping bottlenecks, and difficulty replenishing vacant positions. I’m having a hard time keeping up with the demand from companies.

Friday

US Employment Report Disappointed in april, Employment growth was well below expectations. Economists predict that jobs will recover in May as more people are vaccinated and businesses offer higher wages and other incentives to attract workers. But even if employment grows significantly in the next month, U.S. employment has fallen by millions compared to before the pandemic, emphasizing uneven and incomplete recovery. ..

Federal Reserve Board Chair Jerome Powell will speak with the Central Bank on climate change at a global conference.More and more central banks around the world Jumped into climate-related policiesBut the Fed acted cautiously in partisan debate and concerns about expanding its mission beyond employment and inflation.

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Economic Week ahead: factories, services, jobs

Source link Economic Week ahead: factories, services, jobs

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