Wikimedia CommonsWe hope you’re having a relaxing weekend. It’s going to be another big week for the global economy, kicking off tonight.
Tonight is the beginning of global PMI day, in which we get surveys from Asia, Europe, South America, and the US about the state of each country’s manufacturing sector.
The PMI day festivities start with China and Korean PMIs, and then move to Europe in the early hours of Monday, and then end with the release of the US ISM report at 10 AM ET.
All of the big regions will be key to watch. China is always crucial. Europe seems to be heading into the toilet, and these numbers will provide a crucial gauge on what’s going on with that. And then for the US, the big question is whether events like the payroll tax holiday and the sequester have mattered at all.
There’s a lot more stuff throughout the week.
On Tuesday we get US auto sales.
Then on Wednesday there’s Services PMIs along with the ADP jobs report.
Thursday is initial jobless claims.
And then of course Friday is the big one: The Non-Farm Payrolls Report (AKA the jobs report). Per Calculated Risk, the consensus is for 193K new jobs for the month, although some think we might get a real blowout number.
Also on Friday is the trade report, and in the afternoon the Consumer Credit number, which will give another look at household willingness to lever up.
So it’s going to be a fun one.
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