A look at some of the major business events and economic indicators coming up this week: EYE ON CONSUMERS The conference…
A look at some of the major trade events and economic indicators coming up this week:
EYE ON CONSUMERS
The Conference Board released its monthly index of US consumer confidence on Tuesday.
The November index is expected to post a reading of 110.9, which would be down from 113.8 in October, when consumer confidence rose as public anxiety over the delta variant of the coronavirus appeared to sag. ‘mitigate. A reading of 90 or better reflects a healthy economy. Consumer spending accounts for about 70% of all economic activity in the United States, so economists pay close attention to the index.
Consumer confidence, by month:
June 128.9
125.1 July
115.2 August
109.8 Sep
113.8 Oct
November (est.) 110.9
Source: FactSet
ECONOMIC OVERVIEW
The Federal Reserve released a report on Wednesday based on its investigation of business conditions in the United States
The report, dubbed the Beige Book, is a snapshot of the business situation in the Fed’s 12 regional banking districts. The October report found that the economy was facing a number of headwinds at the start of the month, ranging from supply chain disruptions and labor shortages to uncertainty over the variant. COVID delta.
ALL ABOUT JOBS
Economists expect hiring in the United States to accelerate in November for the second consecutive month.
The Labor Department is expected to report Friday that non-farm employers created 550,000 jobs in November. This would be up from the 531,000 in October. Employers have stepped up the pace of hiring in recent weeks, a sign that the recovery from the pandemic recession is overcoming a virus-induced slowdown.
Non-farm payroll, monthly variation, seasonally adjusted:
962,000 June
July 1,091,000
483,000 August
312,000 Sep.
531,000 October
Nov (est.) 550,000
Source: FactSet
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