The EIU nowcast for the US economy for Q4 2020 weakened to 1.85% (quarter-on-quarter) as of last week, compared with 1.97% during the week ending 27th November.
ADP employment data for November revealed the addition of 307,000 jobs to the US economy — the lowest in the last four months. Non-farm payroll employment from the BLS also indicated the addition of only 245,000 jobs in November – the lowest since May 2020.
The ISM Manufacturing index fell to 57.5 in November from a two year high in October. The ISM Non-Manufacturing Index fell to 55.9 in November — the lowest since May 2020.
Initial claims for unemployment insurance fell to 712,000 for the fourth week of November, down from 787,000 the previous week.
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Indicators Reference Period Latest data Previous data US Markit PMI: Manufacturing [Actual] [Latest Estimates incl Flash] (SA, 50 +=Expansion) Nov (20’) 56.65 53.36 ISM Mfg: PMI Composite Index (SA, 50+ = Econ Expand) Nov (20’) 57.50 59.30 ADP Nonfarm Private Payroll Employment (SA Change, Thous.) Nov (20’) 307.00 404.00 ISM Non Manufacturing : NMI Composite Index (SA, +50=Increasing) Nov (20’) 55.90 56.60 US PMI: Svcs Business Activity Index [Actual] [Latest Est incl Flash](SA, 50+=Expansion) Nov (20’) 53.36 56.95 Unemployment Insurance: Initial Claims, State Programs (SA, Thous) Nov (20’) 712.00 757.00 Change in Nonfarm Payrolls excluding the Effect of Strikes (SA, Thous) Nov (20’) 245.00 610.00 Manufacturers’ New Orders: Durable Goods [Actual] (SA, Mil.$) Oct (20’) 240978.00 237786.00 Manufacturers’ Inventories: Durable Goods [Actual] (EOP, SA, Mil.$) Oct (20’) 422460.00 421434.00 Manufacturers’ Unfilled Orders: Durable Goods [Actual] (EOP, SA, Mil.$) Oct (20’) 1073292.00 1075902.00
Indicators Reference Period Release Date Exports, f.a.s.: Goods [Actual] (SA, Mil.$) Oct (20’) 7th Dec 2020 Imports, Customs Value: Goods [Actual] (SA, Mil.$) Oct (20’) 7th Dec 2020 Unemployment Insurance: Initial Claims, State Programs (SA, Thous) Dec (20’) 10th Dec 2020 University of Michigan: Consumer Sentiment [Flash] (NSA, Q1-66=100) Dec (20’) 11th Dec 2020 University of Michigan: Current Economic Conditions [Flash](NSA, Q1-66=100) Dec (20’) 11th Dec 2020 University of Michigan: Consumer Expectations [Flash] (NSA, Q1-66=100) Dec (20’) 11th Dec 2020
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