Economic Preview: Key Data Releases (week of 03Aug2026)
Key macroeconomic releases in the coming week will provide important signals on growth, inflation, labour-market conditions, and energy demand.
Manufacturing and Inflation Indicators
The S&P Global Manufacturing PMI for July is expected at 53.8, indicating continued expansion in global manufacturing activity. The ISM Manufacturing PMI and ISM Manufacturing Prices Index for July will also be released. The previous ISM Manufacturing Prices reading of 73.0 pointed to inflationary pressure, which could eventually be passed on to consumers.
Labour-Market Data
Several labour-market indicators will be closely watched by the Federal Reserve ahead of its upcoming interest-rate decision:
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JOLTS job openings for June will be announced, following a previous reading of 7.594 million openings.
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ADP non-farm employment change for July will provide another early view of private-sector hiring momentum.
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Initial jobless claims will also be released, after the previous reading of 197,000.
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Average hourly earnings, non-farm payrolls, and the unemployment rate for July will be announced together. The unemployment rate previously stood at 4.2%.
Services Sector and Price Pressures
The S&P Global Services PMI for July is forecast at 53.6, suggesting continued expansion in global services activity. The ISM Non-Manufacturing PMI for July will also be released after a previous reading of 54.0, which pointed to growth in the sector.
However, the previous ISM Non-Manufacturing Prices Index reading of 67.7 suggested persistent inflationary pressure in the services sector. This remains an important area to monitor, as higher input costs may continue to flow through to consumers.
Energy Market Signals
Crude oil inventories previously recorded a drawdown of more than 7.16 million barrels, suggesting stronger demand than producers may have anticipated.
Overall, the week’s data will help shape expectations around growth, inflation, employment conditions, and the Federal Reserve’s policy outlook.
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