Kingsbarn Capital & Development
Managed-Direct Ownership
REAL ESTATE NEWS
WEEK AHEAD
U.S. Job Market and Consumer Spending in Focus
Investors will come back from the holiday break in the U.S. to a heavy economic calendar that includes updates on consumer confidence on November 29, the second estimate on Q3 GDP on November 30, a report on construction spending on December 1, and the highly-anticipated employment report on December 2. Economists expected 200K payroll additions in November and for the unemployment rate to hold steady at 3.7%. Hourly earnings are seen decelerating to +0.3% growth from +0.4% in October. The jobs report will be crucial in setting rate hike expectations and terminal rate forecasts just ahead of the next FOMC meeting.

DATA DECK FOR Nov 28 - Dec 2
DATE REPORT IMPACT FORECAST PREVIOUS
Nov 29 S&P/CS Composite-20 HPI y/y Low 10.5% 13.1%
Nov 29 HPI m/m Low -1.2% -0.7%
Nov 29 CB Consumer Confidence High 100.0 102.5
Nov 30 ADP Non-Farm Employment Change High 200K 239K
Nov 30 Prelim Wholesale Inventories m/m Low 0.5% 0.8%
Nov 30 Prelim GDP q/q High 2.8% 2.6%
Nov 30 Prelim GDP Price Index q/q Low 4.1% 4.1%
Nov 30 Goods Trade Balance Low -90.2B -92.2B
Nov 30 Chicago PMI Low 47.0 45.2
Nov 30 Pending Home Sales m/m Medium -5.0% -10.2%
Nov 30 JOLTS Job Openings High 10.36M 10.72M
Nov 30 Crude Oil Inventories Low -3.7M
Dec 1 Challenger Job Cuts y/y Low 48.3%
Dec 1 Unemployment Claims Medium 234K 240K
Dec 1 Core PCE Price Index m/m High 0.3% 0.5%
Dec 1 Personal Income m/m Low 0.4% 0.4%
Dec 1 Personal Spending m/m Low 0.8% 0.6%
Dec 1 Final Manufacturing PMI Low 47.6 47.6
Dec 1 ISM Manufacturing PMI High 49.8 50.2
Dec 1 ISM Manufacturing Prices Low 46.0 46.6
Dec 1 Construction Spending m/m Low -0.2% 0.2%
Dec 1 Wards Total Vehicle Sales Low 14.6M 14.9M
Dec 1 Natural Gas Storage Low -80B
Dec 2 Non-Farm Employment Change High 200K 261K
Dec 2 Unemployment Rate High 3.7% 3.7%
Dec 2 Average Hourly Earnings m/m High 0.3% 0.4%