Wu said this week's macro indicators and analysis: US September PCE, November ADP

Compiled by: GaryMa Wu said Blockchain

Abstract Wu discusses this week's macro indicators and analysis: Last week's Federal Reserve Beige Book showed little change in the economy, with weakened labor demand, and the consensus from the ECB's October meeting minutes is “not in a hurry to cut interest rates”; this week, focus on the “Federal Reserve's favorite inflation indicator” September PCE and the U.S. November ADP, among others.

Last Week Review

U.S. September PPI annual rate 2.7%, expected 2.7%, previous value 2.60%.

The number of initial jobless claims in the United States for the week ending November 22 was 216,000, expected to be 225,000, and the previous value was revised from 220,000 to 222,000.

The Federal Reserve released the Beige Book on economic conditions: During the survey period, the U.S. economy saw little change, labor demand weakened, price pressures rose moderately, and consumer spending faced challenges.

ECB October meeting minutes: “No rush to cut rates” reached consensus, current wait-and-see is the best strategy.

Key Events & Indicators This Week December 01

US November ISM Manufacturing PMI (23:00)

The interest rate meeting is imminent, and the Federal Reserve has entered a silent period.

US-Russia talks

December 02

Federal Reserve Chairman Powell delivered a speech at a commemorative event (09:00)

December 03

United States ADP employment numbers for November ( million ) (21:15)

December 04

The number of initial jobless claims in the US for the week ending November 29 was ( million ) (21:30)

December 05

U.S. Core PCE Price Index Year-on-Year for September (23:00)