Economic reports release dates for the week of July 2nd.

Indicator Release Date Period Prior Value Median Forecast

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ISM Manu Index 8/2 July 56.2 54.0
Construct Spending MOM% 8/2 June -0.2% -0.5%
Pers Inc MOM% 8/3 June 0.4% 0.2%
Pers Spend MOM% 8/3 June 0.2% 0.1%
Factory Orders MOM% 8/3 June -1.4% -0.3%
Pending Homes MOM% 8/3 June -30.0% 3.7%
ADP Payroll ,000’s 8/4 July 13 35
ISM NonManu Index 8/4 July 53.8 53.0
Initial Claims ,000’s 8/5 31-Jul 457 455
Nonfarm Payrolls ,000’s 8/6 July -125 -60
Private Payrolls ,000’s 8/6 July 83 90
Unemploy Rate % 8/6 July 9.5% 9.6%
Hourly Earnings MOM% 8/6 July -0.1% 0.1%

Keep a close eye on the personal spending report and on Friday’s employment situation. These reports will have major impact on the direction of the equity markets this month. Also, this weekend former Federal Reserve Chairman Alan Greenspan said the slowing economic recovery in the U.S. feels like a “quasi-recession” and the economy might contract again if home prices decline.
“We’re in a pause in a recovery, a modest recovery, but a pause in the modest recovery feels like a quasi-recession,” Greenspan said in an interview on NBC’s “Meet the Press.”

In addition, China’s manufacturing grew at the slowest pace in 17 months in July as the government clamped down on property speculation and investment in energy-intensive and polluting factories.
The Purchasing Managers’ Index fell to 51.2 from 52.1 in June, the Federation of Logistics and Purchasing said on its website yesterday. A reading above 50 shows an expansion. A separate China PMI is due to be released today by HSBC Holdings Plc and Markit Economics.