By Sarah Chaney
In the week ahead, the U.S. Commerce Department releases data on durable goods orders and personal income. Canada issues GDP numbers, and China publishes factory numbers.
Monday: The U.S. Commerce Department publishes July durable-goods figures. In June, orders for manufactured products intended to last at least three years rose 2% from the previous month. The increase was driven by a bounce back in civilian aircraft orders. A proxy for business investment, orders for nondefense capital goods excluding aircraft, rose 1.9% in June, the second straight month of growth. Economists surveyed by The Wall Street Journal forecast durable-goods orders increased 1.1% in July from a month earlier.
Friday: The U.S. Commerce Department releases July personal income and spending figures. Americans' spending moderated slightly in June but remained strong, a sign that high consumer confidence and low unemployment continued to fuel economic growth. Incomes also rose solidly, underscoring the strength of the American consumer at a time of faltering manufacturing. Economists surveyed by The Wall Street Journal forecast personal income growth of 0.3% in July and consumer spending gains of 0.5%.
Statistics Canada releases June gross domestic product figures. Canada's GDP, which tracks broad activity in goods and services in the economy, climbed 0.2% in May from the prior month. May's result marks a slowdown in growth, from a 0.3% month-over-month rise in April and a 0.5% increase in March.
China releases its official gauge of factory activity. Economists expect the official purchasing managers index to edge down to around 49.5 in August from July's 49.7. Weak demand, rising costs and trade tensions likely continued to dampen business sentiment.
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