The November FOMC meeting and the October employment report headline a full economic data calendar this week. As for now we should  not expect the Fed to hike interest rates at the conclusion of its meeting on Wednesday, but to signal its strong intention to do so at the December 14 gathering.

In addition to Friday’s employment report, there are several important data series for policymakers to mull over; personal income and spending and the Chicago PMI (Monday), the manufacturing ISM, construction spending and unit motor vehicle sales (Tuesday), ADP employment (Wednesday), Q3 productivity and the non-manufacturing ISM (Thursday), as well as the international trade balance (Friday). These reports should reflect an economy that continues to muddle along at around a 2% growth rate.

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