Unemployment Data, NAPM Report Due Out

Economic data set for release this week, covering August, include the monthly unemployment report Friday, and Tuesday’s National Assn. of Purchasing Management’s index, which is likely to suggest that manufacturing contracted for the 13th consecutive month. On Tuesday, the major auto makers will release monthly vehicles sales.

In July, the nation’s employers cut 42,000 jobs, leaving the jobless rate at 4.5%, the same as in June. Economists predict the August unemployment report will show job losses for the third straight month.

NAPM numbers are going to be pointing to a recovery in the economy, and this is important because this is the first time that real economic activity is being shown to turn up out of six, seven or eight bad months,” said Bob Robbins, chief investment strategist at SunTrust Robinson Humphrey in Atlanta.

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Other economic data coming this week:

* Tuesday, the Commerce Department will report on construction spending during July. It fell 0.7% during June.

* Wednesday, the Labor Department will report revised productivity statistics for the second quarter. The previous estimate was a gain of 2.5%.

* Thursday, the Labor Department will report on new applications for unemployment benefits in the week ended Saturday. For all of last year, jobless claims averaged 303,000 per week.

* Friday, the Commerce Department will report July inventories and sales at the wholesale level. During June, inventories fell 0.2% and sales dropped 0.9%.