Economic Data
We have a big week for economic data. Our industry thrives in good economic conditions and can be very challenging in tough economic times, so this stuff matters. From Business Insider:
Monday is Global PMI day. Starting Sunday night (Eastern Time), we’ll get a slew of regional manufacturing reports, starting in Asia, then moving to Europe, and then ultimately to the US and Brazil. In about 12 hours, we’ll get a huge sweep of the state of the global manufacturing sector through this series of regional surveys. The Asian numbers will help confirm if the slowdown is real. The European numbers will tell us if, perhaps, green shoots are coming, and of course the US data will indicate how well we’re hanging on.
Also on Monday we get Construction Spending and Auto and Truck Sales. Auto and Truck sales tend to be a good indicator of the state of the jobs market.
Tuesday is quiet, but then on Wednesday we get labor costs (a measure of inflation), factory orders, and then PMI services, which is basically a repeat of Monday’s big PMI day, except focused on the services sector. Also on Wednesday there’s the ADP jobs report, which attempts to anticipate the official job report’s measure of private sector job creation.
On Thursday, Initial Jobless Claims get reported (a great high-frequency measure of the labor market), as well as the latest layoffs report from Challenger.
And then of course Friday will be gigantic, with the Jobs Report in the morning, and then Consumer Credit in the afternoon. Last month’s jobs report was solid (with good upward revisions to previous months) and expectations are for another good month.
So the volume of data will be huge.
Todd Kmiec & Associates 