This Week: Consumer confidence, Fed update, Nonfarm payrolls
A look at some of the key business events and economic indicators upcoming this week:
Economists expect that Americans’ confidence in the economy perked up in October after dipping the previous month.
The Conference Board’s consumer confidence index slipped to 119.8 in September, when Hurricanes Harvey and Irma wrought havoc in Florida and Texas. Even with the decline, the September reading showed consumers remained positive overall. The Conference Board releases its October consumer confidence index on Tuesday.
Consumer confidence, monthly:
Oct. (est.) 121
EYE ON THE FED
Federal Reserve officials deliver an economic and interest rate policy update Wednesday.
The remarks will follow a two-day meeting of the central bank’s policymakers. At their last meeting in September, Fed officials announced the Fed would begin shrinking its $4.5 trillion portfolio of bonds. The central bank also left its key short-term rate unchanged but hinted at one more hike this year, most likely in December.
ALL ABOUT JOBS
Economists predict hiring in the U.S. rebounded in October after declining sharply the previous month.
They expect the Labor Department to report Friday that nonfarm employers added 310,000 jobs in October. That would represent a sharp rebound from September, when the economy lost 33,000 jobs after Hurricanes Harvey and Irma hit Texas, Florida and other Southeastern states.
Nonfarm payrolls, monthly change, seasonally adjusted:
Oct. (est.) 310,000