Construction spending set to rise in June after May dip
Economists forecast a 0.5 percent June increase in total construction outlays including housing nonresidential and government projects. May had fallen 0.3 percent as housing growth cooled and pandemic impact areas weakened. General Motors is set to report Q2 results with expectations of a return to profit and near doubling of revenue aided by strong demand and higher prices despite chip shortages.
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Commerce Department
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U.S
Job Hiring Slows in July Amid High Unemployment Level
Economists predict the Labor Department will report 750000 nonfarm jobs added in July, down from 850000 in June. The unemployment rate rose to 5.9 percent in June from 5.8 percent in May, keeping modern joblessness well above pre pandemic levels.
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