Weekly Economic Calendar: Week of December 01 - 06, 2025 (GMT+8)
This week brings a series of U.S. manufacturing, labor-market, and inflation indicators that may influence expectations around the Federal Reserve’s policy path into year-end. Midweek data releases including ADP employment, ISM surveys, and jobless claims will be closely watched for signs of economic momentum or early softening in the labor market.
Key Highlights
🇺🇸 Monday, Dec 1
Chicago PMI (Dec) 22:45
Previous: 43.8
→ A key gauge of Midwest manufacturing activity. A print below 50 continues to reflect contractionary conditions.
S&P Global Manufacturing PMI (Nov) 22:45
Actual: 51.9 | Forecast: 51.9
→ The sector holds just above the expansion threshold, signaling modest but stable output growth.
ISM Manufacturing PMI (Nov) 23:00
Previous: 48.7
→ Markets will watch whether activity returns toward expansion or remains in contraction territory.
ISM Manufacturing Prices (Nov) 23:00
Previous: 58.0
→ A higher reading would point to renewed cost pressures at the producer level.
🇺🇸 🇪🇺 Tuesday, Dec 2
Fed Chair Powell Speaks 09:00
→ Markets will parse Powell’s remarks for clues on the timing of future rate adjustments heading into 2026.
Eurozone CPI (YoY, Nov) 18:00
Previous: 2.1%
→ A key inflation print for the ECB. Any upside surprise could delay expectations for rate cuts.
U.S. JOLTS Job Openings (Sep) 23:00
Previous: 7.227M
→ A closely followed labor-demand indicator. A further decline would reinforce cooling labor-market conditions.
🇺🇸 Wednesday, Dec 3
ADP Nonfarm Employment Change (Nov) 21:15
Previous: 42K
→ A soft prior reading suggests hiring momentum remains fragile. Markets will watch for stabilization.
S&P Global Services PMI (Nov) 22:45
Forecast: 55.0 | Previous: 54.8
→ The services sector continues to show resilience, supporting broader U.S. activity.
ISM Non-Manufacturing PMI (Nov) 23:00
Previous: 52.4
→ A key gauge of the services economy; expansion above 50 remains supportive of growth.
ISM Non-Manufacturing Prices (Nov) 23:00
Previous: 70.0
→ Elevated prices may signal persistent inflationary pressures within the services sector.
Crude Oil Inventories 23:30
Previous: 2.774M
→ Oil markets will monitor whether inventories rise further, which could weigh on prices and energy-linked currencies.
🇺🇸 Thursday, Dec 4
Initial Jobless Claims 21:30
Previous: 216K
→ Claims remain within normal ranges. A sharp increase would hint at early labor-market softening.
🇺🇸 Friday, Dec 5
Core PCE Price Index (MoM, Sep) 23:00
Forecast: 0.2%
Core PCE Price Index (YoY, Sep) 23:00
Forecast: 2.9%
→ The Fed’s preferred inflation gauge. Any upside surprise may shift expectations toward a more cautious policy stance.
Macro Overview
United States
A full slate of PMI surveys, labor-market data, and PCE inflation will help confirm whether the economy is holding steady or beginning to cool into December.
A full slate of PMI surveys, labor-market data, and PCE inflation will help confirm whether the economy is holding steady or beginning to cool into December.
Eurozone
The CPI print will influence expectations around the ECB’s policy direction as inflation moves closer to target.
The CPI print will influence expectations around the ECB’s policy direction as inflation moves closer to target.
Energy Markets
Oil inventory data remains a key driver of short-term volatility in crude prices and inflation expectations.
Oil inventory data remains a key driver of short-term volatility in crude prices and inflation expectations.
Speculative Outlook for USD Traders
🟢 Bullish USD
Strong ISM readings
Firm jobless claims
Higher-than-expected PCE inflation
Firm jobless claims
Higher-than-expected PCE inflation
🔴 Bearish USD
Weak labor data (ADP / claims)
Softer PMI surveys
Cooling price gauges
Softer PMI surveys
Cooling price gauges
🟡 Neutral USD
Mixed signals across manufacturing, services, and labor markets, prompting range-bound trading until more decisive December data.
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