US: Plethora of economic releases in today’s session - TDS

Research Team at TDS suggests that the US reports durable goods orders, personal income and spending, PCE inflation in addition to the third print of Q3 GDP and jobless claims data in today’s session.

Key Quotes

“Durable goods orders for November will act as the highlight of the US calendar and are expected to retrace sharply due to a decline in Boeing orders. TD looks for a 4.8% m/m drop, though details should prove more upbeat and reveal a 0.2% increase in ex-transportation orders, both in line with market estimates.”

“November personal income and spending will be released later than usual at 10:00 ET. TD expects a 0.2% m/m nominal increase for both personal incomes and spending while the market is more upbeat and projects a 0.3% m/m gain in each.”

“We are in line with the market on PCE inflation, which should rise to 1.5% y/y while core PCE inflation, the Fed’s preferred gauge, is expected to remain unchanged at 1.7% y/y.”

“Meanwhile, markets expect the third print of Q3 GDP to reveal a 0.1pp increase to 3.4% q/q (ann) and initial jobless claims are forecast to remain within their recent range (TD: 260k, market: 257k).”