Economic calendar: PCE report and US GDP in the spotlight 📄

Today's macroeconomic calendar features several key releases, including the Q3 US GDP report and the PCE inflation report. Later in the day, the weekly crude oil inventory data will also be published.

The most important release of the day will be the US GDP report for the third quarter. This will be the second preliminary reading, with the final data scheduled for release at the end of December. Expectations point to a slight decrease in the preliminary GDP growth rate from 3.00% QoQ (annualized) to the current forecast of 2.80% QoQ.

At the same time, the PCE report and durable goods data from the US is also scheduled to be released.

Detailed schedule for the day:

01:30 PM GMT, United States - Employment Data:

• Jobless Claims 4-Week Avg.: previous 217.75K;
• Initial Jobless Claims: forecast 215K; previous 213K;
• Continuing Jobless Claims: forecast 1,910K; previous 1,908K;

01:30 PM GMT, United States - Inflation Data:

• PCE Price index: forecast 2.3% YoY; previous 2.1% YoY;
• PCE price index: forecast 0.2% MoM; previous 0.2% MoM;
• Core PCE Price Index: forecast 2.8% YoY; previous 2.7% YoY;
• Core PCE Price Index: forecast 0.3% MoM; previous 0.3% MoM;
• Personal Spending: forecast 0.4% MoM; previous 0.5% MoM;
• Personal Income: forecast 0.3% MoM; previous 0.3% MoM;

01:30 PM GMT, United States - Durable Goods for October:

• Durable Goods Orders: forecast -0.8% MoM; previous 0.0% MoM;
• Core Durable Goods Orders: forecast 0.2% MoM; previous 0.5% MoM;
• Goods Orders Non Defense Ex Air: forecast 0.5% MoM; previous 0.2% MoM;

01:30 PM GMT, United States - GDP data:

• GDP (Q3): forecast 2.8% QoQ; previous 3.0% QoQ;
• GDP Price Index (Q3): forecast 1.8% QoQ; previous 2.5% QoQ;
• GDP Sales (Q3): forecast 3.0%; previous 1.9%;

03:00 PM GMT, United States - Pending Home Sales for October:

• forecast -2.1% MoM; previous 7.4% MoM;

03:30 PM GMT, United States - EIA Data:

• Crude Oil Inventories: forecast -1.300M; previous 0.545M;
• EIA Weekly Distillates Stocks: previous -0.114M;
• Gasoline Inventories: previous 2.054M;