Durable goods (USD, GMT 13:30) – Durable goods orders are expected to fall -0.4% in November with a -2.0% decline for transportation orders, after a 1.1% headline rise in October that included a 2.2% transportation orders increase. Durable orders ex-transportation are pegged to rise 0.5%, after a 0.5% October increase.
Personal Income/Consumption (USD, GMT 13:30) – Personal income is expected to rise after a 0.7% October gain. We expect a 0.4% rise in compensation after a 0.5% gain, given a -0.2% November decrease for hours-worked but a 0.6% rise for hourly earnings. We expect a 0.3% rise for consumption after a 0.8% October increase. We expect the savings rate to hold at the 17-year low of 2.3%, which marks the second lowest monthly rate since the series began in 1959.
United Kingdom – Christmas – Early close at 12:30 GMT United States Stock & Bond Market – Early Close at 18:00 & 19:00 GMT respectively.
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