Economic Release Snapshot: A Busy Start to the Year

Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.

Reports for the Week of December 26

There were no major data releases during the holiday-shortened week.

Upcoming Reports for the Week of January 2

ISM Manufacturing, December (Wednesday)

Manufacturer confidence is projected to improve modestly to end the year, but the index is expected to signal headwinds for the manufacturing industry. If estimates hold, this will mark 14 consecutive months of contractionary territory for the index.

FOMC meeting minutes (Wednesday)

The minutes from the December FOMC meeting are set to be released on Wednesday. The Fed kept interest rates unchanged but hinted that future rate cuts may be appropriate if we continue to progress in combating inflation in 2024.

Employment report, December (Friday)

Economists expect to see continued hiring growth to end the year, with calls for 170,000 new jobs in December, following a better-than-expected 199,000 jobs in November.

ISM Services, December (Friday)

Service sector confidence is set to decline slightly in December after the index improved more than expected in November. Despite the anticipated decline, this could mark 12 consecutive months of expansionary territory for the index if estimates hold.