This week: consumer confidence, beige book, non-farm payroll


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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