U.S. S&P manufacturing PMI for May. U.S. construction spending for April. The Street is projecting an increase of 0.2 per cent from March.Japan and Euro zone services and composite PMI Canada’s labour productivity for Q1. Bank of Canada policy announcement with press conference to follow. Canada’s merchandise trade balance for April.
U.S. initial jobless claims for week of June 1. Estimate is 222,000, up 3,000 from the previous week. U.S. productivity and unit labor costs for Q1. Consensus estimates are annualized rate rises of 0.3 per cent and 4.8 per cent, respectively. Canadian employment for May. The Street expects a rise of 0.1 per cent, or 25,000 jobs, from April with the unemployment rate rising 0.1 per cent to 6.1 per cent and average hourly wages rising 4.8 per cent year-over-year.
U.S. nonfarm payrolls for May. Consensus is a rise of 180,000 jobs month-over-month with the unemployment rate remaining at 3.9 per cent and average hourly wages increasing 0.3 per cent from April and 3.9 per cent year-over-year.
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