Last week, reports indicated the American housing market was still strong and the Standard & Poor’s 500 index closed at a record high.
This week could bring more positive news about the domestic economy, with updates on unemployment and consumer credit.
The Institute for Supply Management (ISM) releases its manufacturing index for March at 10 a.m. Analysts expect the index to drop slightly to 54, from 54.2. The index reflects the health of the manufacturing sector.
Construction-spending data for February also are released at 10 a.m. The amount of spending is forecast to rise by 1 percent, after a decrease of 2.1 percent in January.
The Commerce Department releases February factory orders data at 10 a.m. Factory orders declined by 2 percent in January, but they are expected to increase by nearly 3 percent this time around.
At 10:45 a.m., World Bank President Jim Yong Kim speaks at Georgetown University about measures to end poverty.
Payroll-processing firm Automatic Data Processing releases its appraisal of private-sector job growth in March. Forecasters expect that 200,000 jobs were added, an increase of 2,000 jobs since February.
The ISM releases its nonmanufacturing index for March at 10 a.m. This index looks at the state of national sectors such as agriculture, transportation and retail trade. The index is expected to rise to 56, from 55.8.
Weekly jobless claims are projected to rise to 357,000 from last week’s 354,000.
Chain stores throughout the day release sales numbers for March. The recent upward trend in sales is expected to continue as consumer confidence grows. American consumer spending touched a five-month high in February as personal income jumped, according to data released last week.
The Labor Department releases its monthly unemployment report card at 8:30 a.m. Analysts expect the jobless rate to have held steady in March, at 7.7 percent.
International trade figures for February are released at 8:30 a.m. The country’s trade deficit is expected to narrow marginally to $44.7 billion, from $44.4 billion.
Consumer credit for February is expected to increase significantly, to $16.2 billion, from $15 billion, another sign that the consumer economy is strong.
— Amrita Jayakumar
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