- The U.S. economic data pipeline was full this week, offering a handful of data releases. The majority of releases were ahead of consensus expectations, affirming the U.S. economy held its own during the government shutdown and beyond.
- Non-farm payroll report was the main highlight, delivering a second month of job growth above 200k. The ISM manufacturing index, auto sales and new home sales also surprised on the upside in November.
- The positive turn in economic data will enter into the Fed’s calculus as they plan their exit from quantitative easing (QE). However, developments on Capitol Hill are also important. Fortunately, the latest news on budget developments is modestly encouraging, raising the hopes that mutual dissatisfaction with sequestration will help the two side broker a deal before the New Year.
Source: TD Economics
Kansas City Financial Planner Article of the Week – Bargain-hunting dents U.S. retailers’ November sales: http://reut.rs/1aCA3s8
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John P. Chladek, MBA, CFP® is the President of Chladek Wealth Management, LLC, a fee-only financial planning and investment management firm located in Leawood, KS, a suburb of Kansas City near Overland Park. For more information, visit http://www.chladekwealth.com.