INDICATOR: November Challenger Layoffs and Weekly Jobless Claims
KEY DATA: Layoffs (monthly): -29.8%; Year-to-Date: -5.8%/Claims: 299,000 (down 14,000)
IN A NUTSHELL: "It seems that every time we get labor market numbers, we get more indications that the market is tightening."
INDICATOR: November Supply Managers’ Non-Manufacturing Index, ADP Jobs and Help Wanted Online
KEY DATA: ISM: +2.2 points: Orders: +2.3 points; Employment: -2.9 points/ADP: +208,000/HWOL: +170,200
IN A NUTSHELL: “The October lull was just temporary and it looks like the job market is getting better.”
INDICATOR: November Supply Managers’ Manufacturing Survey
KEY DATA: ISM: 58.7 (-0.3 point); New Orders: up 0.2 point; Employment: -0.6 point
IN A NUTSHELL: "Manufacturing continues at a robust pace and with orders soaring, it is likely that conditions will only get better."
INDICATOR: October New Home Sales, Pending Home Sales and November Consumer Confidence
KEY DATA: New Homes: +0.7%/Pending Sales: -1.1%/Consumer Comfort: up 2.2 points
IN A NUTSHELL: “The housing market is marking time but improving consumer confidence may be coming at just the right time.”
INDICATOR: Revised Third Quarter GDP and November Consumer Confidence
KEY DATA: GDP: 3.9% (up from 3.5%); Year-over-Year: 2.4%; Corporate Profits: +2.1%/Consumer Confidence: down 5.4 points
IN A NUTSHELL: “The economy really is growing solidly, which makes the decline in confidence very strange.”
INDICATOR: October Existing Home Sales, Leading Indicators and November Philadelphia Fed Index
KEY DATA: Home Sales: +1.5%; Leading Indicators: +0.9%; Phila. Fed: up 20.1 points
IN A NUTSHELL: “It is looking more and more like the economy is accelerating.”
INDICATOR: October Producer Price Index and November Home Builders’ Index
KEY DATA: PPI: +0.2%; Goods: -0.4%; Services: +0.5%: Food: +1.0%; Energy: -3.0%/NAHB: up 4 points
IN A NUTSHELL: “While wholesale inflation remains modest, what energy is giving, food is taking away.
INDICATOR: October Industrial Production
KEY DATA: IP: -0.1%; Manufacturing: +0.2%; Mining: -0.9%
IN A NUTSHELL: “The manufacturing sector remains the rock on which the improving economy is being built, but it needs some help.”