Here are my forecasts for upcoming economic data.       Forecast Prior Observation Consensus Week of December 4       December 4       Factory Orders – October -2.5% 2.8 -2.6 Durable Goods Orders  -5.4 4.6   Nondurable Goods Orders  0.5 1.0           December 5       PMI Services Index – November 50.8 50.8   ISM Services – November 51.8 51.8 52.0 JOLTS-October 9.400M 9.533 9.350         December 6       ADP Employment Report – November 130K 113 128 International Trade – October -$64.3B -61.5 -64.1         Productivity – Q3 (r) 5.0% 4.7 4.9 Unit Labor Costs -0.8 -0.8 -0.9         December 7       Initial Unemployment Claims 220K 218 223         Wholesale Inventories – October (p) -0.2% -0.2 0.2 Wholesale Sales               Consumer Credit – October $9.0B 9.0 9.0         December 8       Nonfarm Payrolls – November 150K 150 180 Private 130 99 155 Manufacturing 35 -35 25 Unemployment 3.9% 3.9 3.9 Average Workweek 34.3HR 34.3 34.3 Average Hourly Earnings 0.3% 0.2 0.3         Michigan Consumer Sentiment – Dec (p) 61.8 61.3 62.0         Week of December 11       December 12       NFIB Small Business Optimism Index -November 90.7 90.7           Consumer Price Index – November 0.0% 0.0 0.1 Core CPI 0.2 0.2 0.2 Treasury Budget – November -$219.0B -66.6           December 13       Producer Price Index – November 0.1% -0.5   PPI less food, energy and trade services 0.3 0.1           FMOC 5.375% 5.375           December 14       Retail Sales – November 0.0% -0.1   Retail Sales, ex Autos -0.2 0.1   Retail Sales, ex Autos and Gas 0.0 0.1           Export Prices –  November -1.0% -1.1   Import Prices 1.0 -0.8           Business Inventories – October 0.0% 0.4           December 15       NY Fed Manufacturing Index 5.0 9.1           Industrial Production – November 0.3% -0.3   Capacity Utilization 79.1 79.4   Manufacturing 0.4 -0.3           PMI Manufacturing Flash Index 49.4 49.4          

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