On Tuesday, Statistics Canada reports on building permits in May. Economists expect an increase of 0.8%, compared with a 5.4% drop the previous month.

Also, the Richard Ivey purchasing managers index for June is released. Economists expect a rise to a reading of 50.3 from 48.4 the previous month.

On Thursday, Canada Mortgage and Housing Corp. reports on housing starts in June. Economists expect 130,000 starts, on an annualized basis, up from 128,400 the previous month.

On Friday, StatsCan releases its labour force survey for June. The unemployment rate is expected to rise to 8.7% from 8.4% in the previous month. Economists forecast a net loss of 40,000 jobs.

Separately, StatsCan reports on international merchandise trade for May. A deficit of $600-million is forecast, compared with a $200 million deficit the previous month.

As well, the government agency reports on the new housing price index for May. Economists expect a drop of 0.4% from the previous month.

South of the border

On Monday, the U.S. Institute for Supply Management posts its services index for June. Economists expect a reading of 46, up from 44 a month earlier.

On Wednesday, the U.S. Federal Reserve Board reports on consumer credit in May. Economists expect a drop of US$10 billion.

On Thursday, the U.S. Department of Labour reports on initial jobless claims for the week ended July 4. Economists forecast 600,000 claims, down from 614,00 a week ago.

As well, the U.S. Department of Commerce reports on wholesale inventories for May. Economists expect a drop of 1%, compared with a 1.4% decline the previous month.

On Friday, the U.S. Department of Commerce reports on the trade balance for May. Economists forecast the trade deficit increasing to US$30-billion from $29.2 billion in April.

The University of Michigan issues its preliminary report on consumer sentiment in July. A reading of 70.6 is forecast.

Corporate earnings

Alcoa Inc. kicks off second-quarter earnings season on Wednesday.

On Thursday, Chevron Corp. releases a second-quarter results.

Astral Media Inc. reports third-quarter results.

On Friday, Cogeco Inc. and Cogeco Cable Inc. release third-quarter results.

IE