Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.
Reports for the Week of May 29
Conference Board Consumer Confidence, May (Tuesday)
- Expected/prior Consumer Confidence Index: 99/103.7
- Actual Consumer Confidence Index: 102.3
Consumer confidence fell less than expected in May, as sentiment remained surprisingly resilient during the month despite negative headlines surrounding the debt ceiling standoff.
ISM Manufacturing, May (Wednesday)
- Expected/prior ISM Manufacturing index: 47/47.1
- Actual ISM Manufacturing index: 46.9
Manufacturer confidence fell in May due to declines in new orders, supplier deliveries, and inventories. This result left the index in contractionary territory for the seventh consecutive month and signaled continued headwinds for manufacturers.
Employment report, May (Friday)
- Expected/prior change in nonfarm payrolls: +195,000/+294,000
- Actual change in nonfarm payrolls: +339,000
Hiring continued to accelerate in May, as 339,000 jobs were added during the month against calls for a more modest 195,000 jobs. The strong result may support further rate hikes from the Fed, with all eyes on the next Fed meeting scheduled for mid-June.
Upcoming Reports for the Week of June 5
ISM Services, May (Monday)
Service sector confidence is expected to improve modestly in May, with the index set to remain in expansionary territory during the month.
Trade balance, April (Wednesday)
The April international trade report is set to show a widening trade deficit for the month. The advance report on the trade of goods showed a 5.5 percent drop in goods exports, while goods imports rose 1.8 percent.