Weekly economic review & outlook Summer heats up for job gains
You Need to Know
Week in review
Another surge in job gains for July
The economy added more than 900,000 jobs for a second straight month for July while the unemployment rate saw its largest decline since October.
Mixed business surveys for July as supply concerns persist
The ISM services index rose to an all-time high as demand continues to improve, but supply constraints are limiting manufacturing production with a large backlog on orders.
Week Ahead
Forecasts
Consumer price inflation likely to slow a bit
While price gains were likely still fairly rapid, it is unlikely that they kept pace with the gains seen in recent months.
Small decline expected for small business optimism
Headwinds facing small businesses in July likely caused a fall in optimism, but the magnitude of the drop should be small due to strong demand.
The economy added more than 900,000 jobs for a second straight month for July while the unemployment rate saw its largest decline since October.
NFM-9898AO.7
