US: Focus on CPI and manufacturing PMI data – Danske Bank

Research Team at Danske Bank suggests that the US preliminary Markit PMI manufacturing index for December and CPI figures for November will be the key economic releases for today’s session.

Key Quotes

“The US preliminary Markit PMI manufacturing index for December is also due to be released today. The index rose to 54.1 in November, the highest level since October 2015 and it seems as though the global manufacturing business cycle has turned, as global PMIs are increasing across regions and we expect this trend to continue, so we expect a slight increase in the Markit PMI manufacturing index.”

“US CPI figures for November will also be in focus. CPI core inflation has been more or less flat in 2016, suggesting that the economy still has room to run. We estimate the core CPI inflation rate was unchanged at 2.2% y/y while headline inflation should have increased to 1.7% y/y from 1.6% y/y in October, due mainly to the base effects of energy prices.”