Posted 12/30/2023, 12:31:00 PM
Manufacturing Slumps While Services Hold Steady to Close Out 2022
- December ISM factory index release on Wednesday expected to show continued contraction in manufacturing sector
- FOMC minutes from December meeting to be released Wednesday may provide more clarity on Fed's thinking around potential rate cuts
- December jobs report on Friday expected to show some moderation in labor market strength with lower job gains and higher unemployment
- December ISM services index on Friday expected to remain in expansion territory though likely slipping a bit from November
- Data fits narrative of slowing growth and rising recession worries, keeping hopes of rate cuts in 2024 alive