The economic calendar will again be impacted by the ongoing government shutdown, with key data – including the October jobs report – likely to be delayed. Market participants will look to Wednesday's release of the ADP National Employment Report to fill the void.
Wednesday, November 5: ADP National Employment Report: Private payrolls declined in September. Will October's data follow a similar trend?
Friday, November 7: University of Michigan Consumer Sentiment Index: Wall Street will look to Friday's report to see if the shutdown is starting to weigh on consumer confidence.
Reports that could be delayed or cancelled due to the government shutdown are marked with an asterisk (*).
Read on to see the entire weekly economic calendar of the most important upcoming economic reports scheduled to be released in the next several days. At times, we provide expanded previews and recaps for select reports.
Please check back often. This economic calendar is updated regularly. Bolded reports are those considered more noteworthy. All reporting times are in Eastern Time.
Economic calendar highlights
Monday (11/3)
Economic report |
Period |
Time released |
S&P Global Final Manufacturing Purchasing Managers Index (PMI) |
October |
9:45 am |
Institute for Supply Management (ISM) Manufacturing PMI |
October |
10 am |
Construction spending* |
September |
10 am |
San Francisco Fed President Mary Daly speaks |
N/A |
12 pm |
Fed Governor Lisa Cook speaks |
N/A |
2 pm |
Tuesday (11/4)
Economic report |
Period |
Time released |
Trade balance* |
September |
8:30 am |
Job Openings and Labor Turnover Survey (JOLTS)* |
September |
10 am |
Factory orders* |
September |
10 am |
Wednesday (11/5)
Economic report |
Period |
Time released |
ADP National Employment Report |
October |
8:15 am |
S&P Global Final Services PMI |
October |
9:45 am |
ISM Services PMI |
October |
10 am |
Will private payrolls shrink again?
Private data is taking a more prominent role amid the ongoing government shutdown, which makes Wednesday morning's release of the ADP National Employment Report a key event on the economic calendar.
"Ordinarily, ADP's estimate of monthly employment is of secondary importance to macroeconomic trainspotters," says Bill Adams, chief economist for Comerica Bank. "It's usually used mostly to preview job growth in the government's employment report, which comes out two days after the ADP release in normal times."
In September, U.S. private employers shed 32,000 positions, according to ADP, underscoring a weakening trend in the labor market. Small- and midsized firms saw the biggest job losses, while leisure and hospitality led industry declines.
Another weak reading could encourage the Fed to lower rates again in December.
Thursday (11/6)
Economic report |
Period |
Time released |
Weekly jobless claims* |
Week ending November 1 |
8:30 am |
Productivity and labor costs* |
Q3 |
8:30 am |
Wholesale inventories* |
September |
10 am |
New York Fed President John Williams speaks |
N/A |
11 am |
Cleveland Fed President Beth Hammack speaks |
N/A |
12 pm |
Philadelphia Fed President Anna Paulson speaks |
N/A |
4:30 pm |
St. Louis Fed President Alberto Musalem speaks |
N/A |
5:30 pm |
Friday (11/7)
Economic report |
Period |
Time released |
Fed Governor Philip Jefferson speaks |
N/A |
7 am |
Nonfarm payrolls report* |
October |
8:30 am |
Personal income and spending* |
October |
8:30 am |
University of Michigan Consumer Sentiment Index (preliminary) |
November |
10 am |
Consumer credit* |
September |
3 pm |
Is the shutdown weighing on consumer confidence?
Friday morning's release of the University of Michigan's preliminary Consumer Sentiment Index for November is a key event on the economic calendar.
The data help Wall Street and economists gauge how confident consumers are feeling about the economy, what their short- and long-term inflation expectations are, and how comfortable they feel spending money based on these outlooks. The report is released twice a month.
The final reading for October showed the index slipped to 53.6 from September's 55.1. "Overall, consumers perceive few material changes in economic circumstances from [September]; inflation and high prices remain at the forefront of consumers' minds," said Surveys of Consumers Director Joanne Hsu. She added that there "was little evidence" that "consumers connect the federal government shutdown to the economy."
The cutoff date for the final October survey was October 19, so it will be interesting to see if sentiment has changed with the shutdown now entering its second month.
BofA Securities economists expect the index to edge down to 53 "due to continued tariff uncertainty and the government shutdown."
Reporting schedules are provided Forex Factory and MarketWatch.
