Data out this week will show how the economy was performing as 2020 came to a close.
Wednesday
China’s industrial profit growth is expected to register modest gains for the full year, compared with a 3.3% annual fall in 2019. China’s industrial sector led its economic recovery from Covid-19 shocks and was buoyed by global demand for protective gear and work-from-home electronic devices.
U.S. durable goods orders likely rose for the eighth consecutive month in December. The manufacturing sector has been resilient through much of the pandemic as businesses make modest investments and consumers shift spending away from services and toward goods.
The Federal Reserve is expected to leave policy unchanged. Chairman Jerome Powell is likely to underscore the central bank’s commitment to supporting the economy with low rates and continued bond purchases for the foreseeable future.
