Source: ADVFN Newsdesk <newsdesk@advfn.co.uk>

This text was copied from the source above mentioned. 

Jobs and private
sector activity data are among the key economic readings scheduled for release
in the unfolding week, as traders seek additional clarity on the economic
outlook in the New Year. The spotlight is likely to be on the Labor
Department’s monthly non-farm payrolls data for December as well as ADP’s
private sector payrolls data for December, weekly jobless claims data, the
results of the Institute for Supply’s national manufacturing and
non-manufacturing surveys for December and Markit’s final manufacturing and
service sector PMIs for December.

Monthly U.S. auto sales for December, some Fed speeches and the minutes of the
December FOMC meeting, where the Fed began its monetary policy normalization by
announcing its first hike in nearly a decade, could also be on the radar. The
Commerce Department’s construction spending, trade balance, factor orders, and
wholesale trade data, all for November, and the Federal Reserve’s consumer
credit report for November round up the economic events of the week.

Markit is set to release its final U.S. manufacturing PMI data
for December at 9:45 am ET. Economists expect the index to be upwardly revised
to 52.8 from the flash estimate of 51.3, up slightly from the November reading
of 52.6.

The Institute for Supply Management is due to release the results of its
national manufacturing survey for December at 10 am ET. The consensus estimate
calls for an increase in the manufacturing PMI to 49.2 from 48.6 in November.

The manufacturing PMI dropped to 48.6 in November from 50.1 in October, with a
reading below 50 indicating a contraction in manufacturing activity. The
pullback into contraction territory came as a surprise to economists, who had
expected the index to climb to a reading of 50.5.

Also at 10 am, the Commerce Department is scheduled to release its construction
spending data for November. Economists expect construction spending growth of
0.7 percent month-over-month.

Construction spending rose more than expected in October, reaching its highest
level in nearly eight years. Construction spending climbed 1.0 percent to an
annual rate of $1.107 trillion in October. Economists had expected spending to
rise by 0.6 percent.

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