Action Economics Survey results: December has kicked off with a bang
Action Economics Survey results: December has kicked off with a bang as Washington grabs the headlines with the Flynn news and tax bill. The last month of the year is certainly setting up to be an eventful one ahead of the holidays and before analysts close out 2017. Along with the above factors, the month's slate has the FOMC meeting, where the Survey shows unanimous expectations for a 25 bp hike. Hence, the focus there on the SEP and especially the dot plot. There are plenty of issues in Europe to be monitored as well. And as reflected by the length of the Survey, there is a mound of data to be absorbed over the next two weeks, including jobs, CPI, retail sales, and production. The Survey Median points to a 198k increase in nonfarm payrolls for November, with the unemployment rate holding steady at 4.1%. CPI is expected to jump 0.4% overall, with a 0.2% gain in the core. Retail sales are projected rising 0.4% for both the headline and ex-auto component.