Intesa Sanpaolo · 08/28/2026
Calendar of macroeconomic data and events · 28 August 2026
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The report
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AI analysis
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Key arguments
- The US August nonfarm payrolls are expected to decrease by 23k, a sharp reversal from the previous month's gain, while unemployment is forecast to rise to 4.2%.
- Eurozone August flash CPI is expected to accelerate to 3.2% YoY from 2.9%.
- China's NBS Manufacturing PMI is expected to rise to 49.6 in August from 49.2, remaining below the 50 threshold.
Risks
- If US nonfarm payrolls decline more than expected, it could signal a slowdown and impact market expectations for the Fed.
- If US job growth is stronger than the consensus, the market may expect a more hawkish Fed.
- If the US unemployment rate rises more than expected, it could increase recession fears.