This Week: Consumer confidence, Beige book, Nonfarm payrolls
Nov 28, 2021, 11:00 PM | Updated: 11:13 pm
A look at some of the key business events and economic indicators upcoming this week:
EYE ON CONSUMERS
The Conference Board delivers its monthly index of U.S. consumer confidence Tuesday.
The November index is expected to show a reading of 110.9, which would be down from 113.8 in October, when consumer confidence rose as the public’s anxiety about the delta variant of the coronavirus appeared to abate. A reading of 90 or better reflects a healthy economy. Spending by consumers makes up about 70% of all economic activity in the U.S., so economists pay close attention to the index.
Consumer confidence, by month:
June 128.9
July 125.1
Aug. 115.2
Sept. 109.8
Oct. 113.8
Nov. (est.) 110.9
Source: FactSet
ECONOMIC SNAPSHOT
The Federal Reserve serves up a report Wednesday based on its survey of business conditions across the U.S.
The report, dubbed the beige book, is a snapshot of how business are doing in the Fed’s 12 regional bank districts. October’s report found that the economy faced a number of headwinds at the start of the month, ranging from supply-chain disruptions and labor shortages to uncertainty about the delta variant of COVID.
ALL ABOUT JOBS
Economists predict hiring in the U.S. accelerated in November for the second month in a row.
The Labor Department is expected to report Friday that nonfarm employers added 550,000 jobs in November. That would be up from 531,000 in October. Employers have picked up the pace on hiring in recent weeks, a sign the recovery from the pandemic recession is overcoming a virus-induced slowdown.
Nonfarm payrolls, monthly change, seasonally adjusted:
June 962,000
July 1,091,000
Aug. 483,000
Sept. 312,000
Oct. 531,000
Nov. (est.) 550,000
Source: FactSet
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