On Tap Today: Third-Quarter Productivity & Unit Labor Costs Released

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Top billing for today's economic events goes to the revised Productivity and Unit Labor Costs report for the third quarter. As the forecasts show, the data is expected to reveal decreased productivity and increased labor costs. Although that trend has unkind inflationary implications, it's unlikely to deter the Federal Reserve, which is focused on decelerating growth.

Economic Data

(

Forecasts are from

Reuters

. Times are Eastern. For a longer-term economic calendar and more, see

TSC's

Economic Databank.

)

  • 7 a.m.: Mortgage Applications Survey for the week ended Friday. Source: Mortgage Bankers Association. Refinancing Index: Forecast: n.a. Previous: 576.4. Purchase Index: Forecast: n.a. Previous: 307.0.
  • 8:30 a.m.: Revised Productivity for Q3. Source: Labor Department. Forecast: n.a.. Previous: +3.8% (Q3 - prelim.), +6.1% (Q2). Unit labor costs: Forecast: n.a. Previous: +2.5% (Q3 - prelim.), -0.2% (Q2).
  • 9 a.m.: Treasury buyback announcement. Source: Bureau of the Public Debt. The Treasury announces the details of tomorrow's auction.
  • 2 p.m.: Beige Book. Source: Federal Reserve. The Fed's anecdotal report on economic conditions around the country is for consideration at the Federal Open Market Committee's Dec.19 meeting.
  • 6:30 p.m.: Consumer Comfort Index for the week ended Saturday. Source: Money Magazine and ABC News. Forecast: n.a. Previous: 29.

Speeches & Testimony

  • The Security and Exchange Commission's Commissioner Laura Unger addresses the Council on Foreign Relations in Washington, D.C.
  • The SEC's Commissioner Isaac Hunt and Commissioner Paul Carey address the Capital Markets Training Program in Athens, Greece.
  • The SEC's Chief Accountant, Lynn Turner, talks to the AICPA-SEC Annual Conference on Current Developments in Washington, D.C.