US nonfarm payroll data for September rounds off the week. The figures released last month smashed expectations after clocking in at 266k versus expectations of a 180k print. Average hourly earnings missed expectations on a month-by-month basis, but annualised growth came in above forecasts at 3.1%. Forecasts this time around are for a 168k increase in payrolls and 0.3% wage growth.
Another dose of UK economic data, following on from last week’s reading that showed the second-worst pace of contraction for the manufacturing sector since 2012 in December. November’s reading showed the service sector had slipped back into contraction, but business optimism was at a four-month high. Were companies right to be feeling more positive?
December is a make or break month for many retailers. With Costco being one of the few major retailers to still issue monthly trading updates, the December report will be closely watched as a gauge for consumer activity over the key shopping season.
Meanwhile, this week also sees Walgreens Boots Alliance, Constellation Brands, Bed Bath & Beyond, and Acuity Brands reporting earnings.
Jan 8th – Walgreens Boots Alliance – Q1 2020
Jan 8th – Constellation Brands – Q3 2020
Jan 8th – Bed Bath & Beyond – Q3 2020
Jan 8th – Costco – December Sales Release
Jan 9th – Acuity Brands – Q1 2020
(All times GMT)
09.30 GMT 06-Jan UK Services PMI
10.00 GMT 07-Jan Eurozone Flash CPI Estimate
15.00 GMT 07-Jan US ISM Non-Manufacturing Composite PMI
00.30 GMT 09-Jan Australia Trade Balance
00.30 GMT 10-Jan Australia Retail Sales
13.30 GMT 10-Jan US Nonfarm Payrolls / Average earnings
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