Today’s data release calendar is a strong one, featuring reports that will be significant for analyzing sales and business investment.
The month’s final manufacturing surveys arrive in the forms of the Markit PMI (prelim 54.6) at 09:45 and the ISM Manufacturing PMI (mkt 58.5) at 10:00. So far this month we’ve seen a bevy of more or less modest declines in factory surveys.
The October construction spending (mkt +0.5% m/m) report at 10:00 is expected to see growth up for a third straight month even though residential construction hasn’t been making much progress in recent months. November light vehicle sales (mkt 17.50 mn SAAR) should continue cooling after hitting a 12-year high of 18.57 mn annualized in September.
FRB St. Louis President Bullard (non-voter, dove) will give a presentation on the economy and monetary policy at 09:05, while FRB Dallas’s Kaplan (voter, dovish) will take part in a moderated Q&A at a border economic development event at 09:30.