Wednesday, January 01, 2014

Thursday: Unemployment Claims, ISM Mfg Index, Construction Spending

by Bill McBride on 1/01/2014 08:42:00 PM

Happy New Year!

Here are eight of the ten questions for 2014 with a few predictions (two more to come):
Question #3 for 2014: What will the unemployment rate be in December 2014?
Question #4 for 2014: Will too much inflation be a concern in 2014?
Question #5 for 2014: Monetary Policy: Will the Fed end QE3 in 2014?
Question #6 for 2014: How much will Residential Investment increase?
Question #7 for 2014: What will happen with house prices in 2014?
Question #8 for 2014: Housing Credit: Will we see easier mortgage lending in 2014?
Question #9 for 2014: How much will housing inventory increase in 2014?
Question #10 for 2014: Downside Risks

Thursday:
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for claims to be unchanged at 338 thousand.

• At 9:00 AM, the Markit US PMI Manufacturing Index for December. The consensus is for an decrease to 54.5 from 54.7 in November.

• At 10:00 AM, the ISM Manufacturing Index for December. The consensus is for a decrease to 57.0 from 57.3 in November. The ISM manufacturing index indicated expansion in November at 57.3%. The employment index was at 56.5%, and the new orders index was at 63.6%.

• Also at 10:00 AM, Construction Spending for November. The consensus is for a 1.0% increase in November construction spending.