Flickr/eggplantThere’s a growing meme that the momentum of the US economy is starting to fade a little bit.
Nobody is too worried, but after a Q1 where growth may have been over 3%, the expectations for Q2 are significantly lower.
So the data is getting really important to watch again.
There are two important datapoints coming up today.
Via Calculated Risk:
• At 8:15 AM, The ADP Employment Report for March. This report is for private payrolls only (no government). The consensus is for 205,000 payroll jobs added in March.
• At 10:00 AM, ISM non-Manufacturing Index for March. The consensus is for a reading of 56.0 unchanged from 56.0 in February. Note: Above 50 indicates expansion, below 50 contraction.
ADP, of course, will be very closely watched as this is a preview for Friday’s Non-Farm Payrolls report.