Tuesday 31st
08:30 ET
Canadian GDP
Canadian Gross Domestic Product is an economic indicator that measures the total monetary value of all goods and services produced within Canada's borders during a specific period.
It is a critical measure of the size and health of the Canadian economy.
GDP includes various components, such as consumer spending, business investment, government expenditures, and net exports. Changes in GDP reflect economic growth or contraction. A rising GDP indicates economic expansion, while a declining GDP suggests an economic downturn.
Canadian policymakers, economists, and businesses monitor GDP data to assess the overall economic performance and make informed decisions related to economic policy.
10:00 ET
US CB Consumer Confidence
The Conference Board Consumer Confidence Index is an economic indicator that measures the level of confidence and optimism among American consumers about their personal financial situation and the broader economy.
It is based on surveys and assesses consumer views on employment, income, inflation, and future economic prospects.
A higher Consumer Confidence Index suggests that consumers are more optimistic about the economy, which can lead to increased consumer spending and economic growth.
Conversely, a lower index indicates reduced consumer confidence, which may impact spending and economic activity.
This index is monitored by economists, policymakers, and businesses for insights into consumer behavior and its potential impact on the economy.
Wednesday 1st
08:15 ET
US ADP Employment Change
This is the first of the 3 monthly US employment reports this week.
The US ADP Employment Change, published by the ADP Research Institute in collaboration with Moody's Analytics, reports the monthly change in the number of employed individuals in the private non-farm sector of the US job market.
The ADP Employment Change figure provides insights into the health of the job market, particularly in the private sector, before the release of the official US nonfarm payroll report, at the end of the week.
It helps economists, policymakers, and investors gauge trends in employment and make informed decisions related to the labor market and the broader economy.
It's important to note that the ADP report only covers private employment and may not reflect the entire labor market's conditions, as it excludes government jobs and certain other categories.
09:45 ET
US S&P Manufacturing PMI
The US S&P Manufacturing Purchasing Managers' Index is an economic indicator that measures the performance of the manufacturing sector in the United States.
It is based on a monthly survey of purchasing managers in manufacturing companies and assesses factors like new orders, production, employment, and supplier deliveries.
As a diffusion index, a PMI above 50 typically indicates economic expansion in the manufacturing sector, while a PMI below 50 suggests contraction.
The US S&P Manufacturing PMI is a tool for assessing the health of the manufacturing industry, as it provides timely information on business conditions and can be used to anticipate economic trends.
It is monitored by economists, investors, and policymakers for insights into the state of the US manufacturing sector.
10:00 ET
US ISM Manufacturing PMI
The US ISM Manufacturing Purchasing Managers' Index is an economic indicator that measures the performance of the manufacturing sector in the United States.
It is based on a monthly survey of purchasing managers in manufacturing companies and assesses factors like new orders, production, employment, and supplier deliveries.
The key difference between the US ISM Manufacturing PMI and the US S&P Manufacturing PMI is the organization conducting the surveys and the methodology used.
The ISM Manufacturing PMI is published by the Institute for Supply Management, while the S&P Manufacturing PMI is published by IHS Markit.
While both PMIs provide similar information about the manufacturing sector, they use different surveys and methodologies, which can lead to variations in their results.
US JOLTS Job Openings
This is the second of the 3 monthly US employment reports this week.
Compared to the other monthly employment releases, the data period that this economic indicator represents lags behind the others by 1 month.
The US Job Openings and Labor Turnover Survey is an economic indicator published by the US Bureau of Labor Statistics.
It provides data on the number of job openings available in the United States and offers insights into the health of the labor market.
JOLTS Job Openings data includes information on the number of job vacancies, hires, quits, and layoffs.
This information helps policymakers, economists, and businesses assess labor market conditions, labor turnover, and trends in job opportunities.
Rising job openings can indicate a strong labor market, while a decline may suggest economic challenges.
14:00 ET
US Interest Rate Decision
The US Interest Rate Decision is the outcome of the Federal Reserve's monetary policy meeting, where the central bank decides whether to change, maintain, or adjust the federal funds rate.
The federal funds rate is the interest rate at which commercial banks can borrow from the Federal Reserve.
The decision has a significant impact on borrowing costs throughout the economy, influencing interest rates for consumers, businesses, and financial markets.
A rate increase is often used to control inflation or cool down an overheated economy, while a rate cut aims to stimulate economic activity during periods of economic weakness.
The US Interest Rate Decision is a crucial tool for the Federal Reserve to achieve its dual mandate of stable prices and maximum employment. It is closely monitored by investors, economists, and policymakers as it can influence financial markets and the broader economy.
The broad consensus is that the Federal Reserve is going to leave rates unchanged at 5.5% for the 3rd consecutive meeting.
Thursday 2nd
08:30 ET
Weekly Initial & Continued Jobless Claims
Weekly Initial Jobless Claims reports the number of new claims for unemployment benefits filed by individuals who have recently lost their jobs. It is released weekly and serves as an indicator of layoffs and job loss trends.
Weekly Continued Jobless Claims reflects the number of individuals who continue to receive unemployment benefits after their initial claims have been approved.
It provides insight into the ongoing unemployment situation. A decrease in continued jobless claims may suggest people are returning to work, while an increase can indicate persistent unemployment.
10:00 ET
US Factory Orders
US Factory Orders is an economic indicator that measures the total dollar value of new orders for durable and non-durable goods from domestic and foreign sources.
It reflects demand for manufactured products and is reported monthly by the US Census Bureau.
Factory Orders data provide insights into the health of the manufacturing sector and overall economic activity.
Rising factory orders can indicate economic growth, while declining orders may suggest economic challenges.
It is monitored by economists, businesses, and policymakers as it helps assess trends in manufacturing and broader economic conditions.
Friday 3rd
08:30 ET
US Nonfarm Payrolls & US Unemployment Rate
US Nonfarm Payrolls is a monthly economic indicator that reports the total number of paid jobs in the United States, excluding farm workers, government employees, and non-profit organization employees. It is a key measure of job creation in the country and is reported by the Bureau of Labor Statistics. An increase in nonfarm payrolls is typically seen as a sign of economic growth.
The US Unemployment Rate is another monthly economic indicator that measures the percentage of the labor force that is actively seeking employment but is currently unemployed.
It is also reported by the Bureau of Labor Statistics.
A lower unemployment rate is generally indicative of a healthier labor market.
Differences between these two indicators can arise due to several reasons:
Scope of Coverage: Nonfarm payrolls do not include certain categories of workers, such as farm workers and those employed in certain government and non-profit roles, while the unemployment rate encompasses a broader range of the labor force.
Survey Methods: The data for these indicators are collected through different surveys (the establishment survey for nonfarm payrolls and the household survey for the unemployment rate), which can yield variations in results.
Timing: The data are collected at different times during the month and may not always align perfectly.
As a result, the nonfarm payrolls and unemployment rate can provide slightly different perspectives on the labor market, with one focusing on job creation and the other on the unemployment rate, but they are both important for assessing overall labor market conditions and the health of the economy.
Canadian Employment Change & Unemployment Rate
Canadian Employment Change is a monthly economic indicator that reports the net change in the number of employed individuals in Canada. It provides insights into job creation or loss in the country.
An increase in employment change suggests economic growth, while a decrease can indicate economic challenges.
Canadian Unemployment Rate is another monthly economic indicator that measures the percentage of the labor force that is actively seeking employment but is currently unemployed.
A lower unemployment rate is typically indicative of a healthier labor market in Canada.
09:45 ET
US S&P Services PMI
The US S&P Services Purchasing Managers' Index is an economic indicator that measures the performance of the services industry in the United States.
It is based on a monthly survey of purchasing managers in service-oriented businesses and assesses factors like new business activity, employment, and business expectations.
As a diffusion index, a PMI above 50 typically indicates economic expansion in the services sector, while a PMI below 50 suggests contraction.
This indicator is used tp assess the health of the services industry, which plays a significant role in the US economy.
It provides timely information on business conditions and helps economists, investors, and policymakers gauge the state of the sector.
10:00 ET
US ISM Services PMI
The US ISM Services Purchasing Managers' Index is an economic indicator published by the Institute for Supply Management. It measures the performance of the services sector in the United States.
The index is based on a survey of purchasing managers in service-oriented businesses and assesses factors like new business orders, employment, and supplier deliveries.
The key difference between the US ISM Services PMI and the US S&P Services PMI is the organization conducting the surveys and the methodology used.
Although both PMIs provide similar information about the services sector, they use different surveys and methodologies, which can lead to variations in their reported results.
The ISM report is otherwise known as the 'Non-Manufacturing PMI', as it does not just survey service sector companies, but any company that operates outside the manufacturing industry, which can lead to divergences between the figures reported.