Private nonfarm payrolls in the US are projected to increase by 179,000 (seasonally adjusted) in November over the previous month in tomorrow’s update of the ADP Employment Report, based on The Capital Spectator’s average point forecast for several econometric estimates. The average projection reflects a slightly lesser rise vs. October’s increase.
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Red ink swept across the major asset classes in November, with one exception: US equities. The Russell 3000 Index edged up 0.6% last month. Otherwise, losses prevailed, delivering a negative counterpoint to October’s generally bullish profile.
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● US Pending Home Sales Index inches higher in Oct | NAR
● Dallas Fed: factory output increases for 2nd month in Nov | WSJ
● PMI: Chicago business activity slips back into recession in Nov | MNI
● PMI: Eurozone mfg growth edges higher in Nov | Markit
● PMI: China mfg activity slips to 3-year low in Nov | Bloomberg
● German unemployment rate falls to record low in Nov | Bloomberg
● IMF adds China’s currency to elite reserve status | LA Times