The labor market is the focus of the economic calendar, with several data points in the lineup – most notably, the February jobs report, due out Friday morning. Meanwhile, Fed Chair Jerome Powell rounds out a heavy slate of central bank speeches with an early afternoon appearance on Friday at the University of Chicago Booth School of Business.
Wednesday, March 5: S&P Global Final Services Purchasing Managers Index (PMI): The preliminary reading showed the first contraction in services sector activity in more than two years, but the final reading signaled expansion.
Friday, March 7: Nonfarm payrolls report: BofA Securities economists do not expect job cuts driven by the Department of Government Efficiency (DOGE) to weigh on the February jobs report.
You can read on to see the entire weekly economic calendar of the most important upcoming economic reports scheduled to be released over the next several days. At times, we provide expanded previews and recaps for select reports.
Please check back often. This economic calendar is updated regularly. Bolded reports are those considered more noteworthy and all reporting times are in Eastern Standard Time.
Economic calendar highlights
Monday (3/3)
Tuesday (3/4)
Wednesday (3/5)
Did the services sector contract in February?
Wednesday morning's release of S&P Global's Final Services PMI for February was in focus after the preliminary reading showed the first contraction in services sector activity in more than two years.
The Flash Services PMI fell to 49.7 from January's 52.9, with service providers citing political uncertainty surrounding federal spending cuts and the impact of potential Trump policies on the economy and inflation as the reasons for the slowdown, S&P Global said.
However, S&P Global's Final Services PMI arrived at 51% in February. While this did signal expansion, the rate of growth was "modest and the slowest since November 2023," the report stated.
Chris Williamson, chief business economist at S&P Global Market Intelligence, adds that the reading, while an improvement over the flash PMI, "creates a worryingly weak picture of service sector business conditions" and this is made gloomier by "a sharp rise in costs" that were unable to be passed on to customers.
Thursday (3/6)
Friday (3/7)
Payrolls likely rebounded in February
Wall Street is keeping a close eye on the labor market amid a steady stream of headlines pointing to layoffs in both the public and private spheres. This is why Friday morning's release of the February jobs report is so highly anticipated.
The January jobs report showed the U.S. added fewer payrolls than expected, though figures for November and December were revised higher. Additionally, the unemployment rate ticked lower.
As for February's data, BofA Securities economists expect a "robust" 185,000 new jobs to be added. "Government jobs are expected to come in at a slightly smaller than average 25,000 due to the federal hiring freeze, the group writes, while adding that DOGE-driven job cuts will create a sizable drag. They also think the unemployment rate will stay at 4%.
Reporting schedules are provided Forex Factory and MarketWatch.
