By WSJ Staff 

The U.S. May jobs report caps a week that also will see gross domestic product data from the U.S. and Brazil, eurozone inflation figures, and an official gauge of factory activity in China.

WEDNESDAY: Brazil's first-quarter gross domestic product figures could show signs of a slowdown in a fragile recovery from two years of deep recession. Some analysts in recent weeks have cut their full-year growth forecasts to as low as 2%, from 3%.

Brazil's central bank releases April budget figures. Overspending has failed to pump up the economy and has raised concerns ahead of a heated general election in October. As of March, the shortfall stood at 7% of GDP.

The U.S. Commerce Department releases its second estimate of first-quarter economic growth. The initial GDP release showed the economy lost momentum at the beginning of 2018, coming in at a 2.3% annualized rate. Economists are expecting the second estimate to remain at 2.3%.

THURSDAY: China releases the official gauge of factory activity for May (release time is Wednesday night in the U.S.). Economists expect the manufacturing purchasing managers index to hold steady at 51.4 in May. Production likely remained robust, but new orders probably have been disrupted by ongoing trade tensions between China and the U.S., they say.

After a disappointingly weak start to the year for the eurozone economy, the European Central Bank is expected to finally receive some encouraging news with the release of inflation figures for May. Economists expect to see a rise in the annual rate of inflation to 1.6%, from 1.2% in April, moving the metric closer to the ECB's target of just under 2%. Rising energy prices are likely to have pushed the rate higher, but a measure of core inflation that excludes that factor is expected to record a more modest increase, to 1% from 0.7% in April.

FRIDAY: The U.S. Labor Department publishes the May jobs report. In April, the unemployment rate fell to 3.9%, the lowest level since 2000, as the economy added a weaker-than-expected 164,000 jobs. Economists expect the unemployment rate to stabilize at 3.9% in May, with about 188,000 jobs likely added in the month.

(END) Dow Jones Newswires

May 27, 2018 15:14 ET (19:14 GMT)