The next three days are going to be busy for the economy.
Today we get two big datapoints. From Calculated Risk:
• At 8:15 AM, the ADP Employment Report for February. This report is for private payrolls only (no government). The consensus is for 158,000 payroll jobs added in January, down from 175,000 in January.
• At 10:00 AM, the ISM non-Manufacturing Index for February. The consensus is for a reading of 53.6, down from 54.0 in January. Note: Above 50 indicates expansion, below 50 contraction.
Of course, the ADP is a preview for this Friday’s jobs report, which is the mother of all economic data reports.