This Week: Construction spending, PepsiCo results, jobs data
A look at some of the key business events and economic indicators upcoming this week:
ECONOMIC BAROMETER
Construction spending has slowed recently after solid increases in the spring.
Spending edged up 0.1% in July after falling by 0.7% the previous two months. Those declines reflect weakness in homebuilding, nonresidential construction and elsewhere. Did the trend continue in August? Find out Tuesday, when the Commerce Department issues its latest monthly tally of construction spending.
Construction spending, monthly percent change, seasonally adjusted:
March 0.8
April 0.6
May -0.7
June -0.7
July 0.1
Aug. (est.) 0.4
Source: FactSet
MIXED RESULTS?
PepsiCo serves up its fiscal third-quarter results Thursday.
Wall Street expects the maker of Pepsi cola and Lays potato chips will report lower third-quarter earnings than a year earlier, even as revenue increased. That would echo PepsiCo's results in the second quarter, when the impact of foreign exchange rates weighed on the company's results.
HIRING PICKUP?
Economists predict hiring in the U.S. rebounded in September after slowing the previous two months.
They expect the Labor Department will report Friday that nonfarm employers added 140,000 jobs in September. U.S. employers added a modest 130,000 jobs in August, despite including a temporary boost from hiring workers for the 2020 Census.
Nonfarm payrolls, monthly change, seasonally adjusted:
April 216,000
May 62,000
June 178,000
July 159,000
Aug. 130,000
Sept. (est.) 140,000
Source: FactSet
