The first estimate for GDP will be released tomorrow. In December the economy seemed to weaken as the consumer pulled back. The monthly employment figures and the retail sales point to a slow down for GDP. How slow remains the question.
The staffing firm ADP will announce their monthly employment numbers tomorrow. These numbers are important because they give a hint to which way the economy is leaning. Also there are times the numbers accurately predict the government's monthly payroll numbers which are released on Friday.
From the ADP web site:
http://www.adpemploymentreport.com/ner_faq.aspx#what_is_adp_ner ), " The ADP National Employment Report is a monthly estimate of private nonfarm employment in the United States based on aggregated and anonymous ADP payroll data... The ADP National Employment Report was developed to help meet the need for additional, timely and accurate estimates of movements in the national labor market among economists, financial professionals, government policymakers and academics. Because ADP pays 1-in-6 private sector employees in the United States every pay period across a broad range of industries, firm sizes, and geographies, it has a unique and significant perspective on the U.S. labor market. "
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