Let’s take a look at some of the major business events and economic indicators scheduled for this week.
economic bellwether
Economists expect US worker productivity to fall for the second consecutive quarter from April to June.
The Labor Department is due to report Tuesday that productivity in the nonfarm workforce fell at an annualized rate of 4.1% in the second quarter. This follows his 7.3% decline in his first three months of the year. Productivity is the amount of work produced per hour of work. The economy has been sluggish in the first half of this year, and fears of a recession are growing.
Productivity, quarterly annual rate of change, seasonally adjusted:
Q1 2021: 2.2
Q2 2021: 3.2
Q3 2021: -3.9
Q4 2021: 6.3
Q1 2022: -7.3
Q2 2022 (estimate): -4.1
Source: Factset
tracking inflation
The Labor Department will release its latest monthly inflation index at the consumer level on Wednesday.
Americans continue to face high costs, as reflected in the sharp year-on-year rise in the consumer price index since last summer. the past year. U.S. consumer prices rose 9.1% year-on-year in June, the biggest annual gain since 1981, and led to a significant rise in energy costs. Economists expect the consumer price index to rise 8.7% in his 12 months to July.
Consumer price index, annual rate of change, unseasonally adjusted:
February 7.9
March 8.5
April 8.3
May 8.6
June 9.1
July (Estimated) 8.7
Source: Factset
spotlight the cardinals
Wall Street expects Cardinal Health to end the year with a solid quarterly report.
Analysts expect medical device and pharmaceutical distributors to report higher fiscal fourth quarter profits and revenues than in the same period last year. Over the past three quarters, Cardinal’s revenues have declined despite higher revenues. The company reports its latest quarterly results on Thursday.
