Click on the title to look at this week's economic data calendar. Highlights are:
Wednesday we get a look at productivity and unit labor costs. If the US is going to avoid inflation, productivity must keep rising. The ISM reports it's services index as well.
Thursday brings the weekly jobless claims and Wholesale Trade numbers. We also get oil inventory numbers.
Friday's lone report is on consumer credit.
There are probably no market movers in this week's numbers although the unit labor costs numbers could prove interesting. The consensus is for a rise of 4% which seems quite high to us. That number should start to moderate as the economy slows, but so far there is no sign of it. Could this be the beginning of wage push 70s style inflation? We hope not....