In Australia, around a dozen economic indicators are scheduled in the coming week as December begins. The standout is the National Accounts, issued on Wednesday. CBA Group economists expect the Aussie economy – as measured by gross domestic product (GDP) – to expand by 0.7% in the September quarter. The annual growth rate could lift to 2.2% from 1.8% in the June quarter.

In the US, attention turns to the state of the labour market ahead of the Fed’s December 9–10 policy meeting. The delayed November nonfarm payrolls report means economists will lean on private sector ADP figures and layoff data from Challenger, Gray & Christmas. Private payrolls could rise by 20,000. On Friday, the core PCE price index is tipped to rise 0.2% with annual growth steady at 2.8%.

In Australian company news, IGA supermarket owner Metcash (Monday) and KFC operator Collins Foods (Tuesday) release earnings results. Bank of Queensland (Tuesday) and Premier Investments (Friday) host AGMs. On Wall Street, earnings season continues with results from CrowdStrike, Marvell Tech, Salesforce, Snowflake, Macy’s, Ulta Beauty, and others.

Sunday November 30

China PMIs (November)
Manufacturing index could lift to 49.3 from 49.0

Monday December 1

Australia: CoreLogic home value index (November)
Home prices are expected to lift 1.0%
Australia: Melbourne Institute inflation gauge (November)
Headline gauge could increase 0.2%
Australia: ANZ-Indeed job ads (November)
Job ads are expected to fall 0.3%
Australia: Company profits & inventories (Q3)
Stocks could fall 1.0% with profits up 5.0%
US ISM manufacturing index (November)
Tipped to decrease from 48.7 to 48.0
US Fed Chair Powell speaks
No commentary on monetary policy is expected

Tuesday December 2

Australia: Building approvals (October)
Approvals could fall 5.0%
Australia: Balance of payments (Q3)
A current account deficit of $12.5b is tipped

Wednesday December 3

Australia: GDP (Q3)
Quarterly GDP growth of 0.7% is expected
US ADP employment change (November)
Private payrolls could increase by 20,000
US import & export prices (September)
Import prices could edge up 0.1%
US industrial production (September)
Tipped to lift 0.1%
US ISM services index (November)
Expected to ease to 52.0 from 52.4

Thursday December 4

Australia: International trade balance (October)
A trade surplus of $3.9b is expected
Australia: Monthly household spending (October)
Spending expected to rise 0.6%
US Challenger job cuts (November)
98,000 redundancies are expected

Friday December 5

US personal income & spending (September)
Annual core PCE index of 2.8% is expected
US University of Michigan consumer sentiment (Dec.)
Index could lift to 52.0 from 51.0

Key themes to watch

• Australia: National Accounts on Wednesday take centre stage, supported by housing, spending and profit data.
• US: With nonfarm payrolls delayed, ADP jobs and PCE inflation figures will guide rate outlooks ahead of the next Fed meeting.
• China: PMIs could hint at early signs of stabilisation in the factory sector.

Check back next Monday for the latest investor calendar, only on Switzer.