A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by much less than expected in the month of February.
ADP said private sector employment rose by 77,000 jobs in February after climbing by an upwardly revised 186,000 jobs in January.
Economists had expected private sector employment to grow by 140,000 jobs compared to the addition of 183,000 jobs originally reported for the previous month.
Private sector job growth slowed to the lowest level since last July, with trade and transportation, health care and education, and information showing job losses, ADP said.
At 10 am ET, the Institute for Supply Management is due to release its report on service sector activity in the month of February. The ISM’s services PMI is expected to inch up to 52.9 in February after dipping to 52.8 in January, with a reading above 50 indicating growth.
The Commerce Department is also scheduled to release its report on new orders for manufactured goods in the month of January at 10 am ET. Factory orders are expected to jump by 1.6 percent in January after slumping by 0.9 percent in December.
At 10:30 am ET, the Energy Information Administration is due to release its report on oil inventories in the week ended February 28th. Crude oil inventories are expected to edge down by 0.3 million barrels after falling by 2.3 million barrels in the previous week.
The Federal Reserve is scheduled to release its Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, at 2 pm ET.