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This Week Shows What Consumers Do for the US Economy and Vice Versa
Well, the strength of the US economy surprised everyone once again on Friday. We learned that the unemployment rate fell to 3.7% in November, average hourly earnings grew by 0.4%, and 199,000 more jobs were added when economists were expecting around 185,000. It's a nice setup for the macro news in this week when we’ll get a broad economic view of just how merrily we may be rolling along. The biggest datapoint comes Tuesday when we get November’s Consumer Price Index. The headline reading is expected to come in flat at 0.0%, with core rising a sequential 0.3%. There's something important to note here: while ... (full story)