New year, new data!
We take a look at the important economic data that will be released next week.
Dr. Christoph Balz, Dr. Ralph Solveen, Dr. Vincent Stamer
Commerzbank Economic Research
01/03/2025
In the US, employment data should show that the labor market is cooling but remains solid. In the euro area, inflation is likely to have picked up in December, but only temporarily. We also expect poor figures again from German manufacturing.
US labor market cools but remains solid
The US labor market was strongly influenced by extraordinary factors in the last two months. Hurricanes and strikes slowed the increase in employment in October to just 36,000, while the waning of these factors in November caused an increase of 227,000. A more meaningful indication of the state of the US labor market is likely to be the average for the two months (132,000). Accordingly, we expect the December figures due next week to show an increase in this range (150,000).
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