The US jobs report for August will be in focus this week.
China’s factory activity is expected to grow at the slowest rate it has for a year and a half in August after extreme weather and a resurgence of Covid-19 cases weighed on business. Economists expect the country’s official purchasing managers index in late July to reflect record rainfall in central China, which devastated the region’s economy and tangled supply chains, as well as sporadic coronavirus outbreaks that resulted in severe lockdowns in some cities.
The Institute for Supply Management’s survey of purchasing managers in US factories is expected to show that activity will expand more slowly in August than in July. The Delta variant of Covid-19 has depressed demand for some goods and services, while bottlenecks in global supply chains and problems finding workers have disrupted production.