U.S. Michigan Consumer Sentiment Preview U.S. Michigan Consumer Sentiment Preview: The second release on January Michigan Sentiment will be out Friday and should reveal an upwardly revised headline of 99.0 (median 98.0) from 98.2 in the month's first release and 93.6 in December. There has been a consistent tendency of upward revisions in the second release of this report over the past year, lending upside risk to tomorrow's release.
U.S. ECI Preview U.S. ECI Preview: The employment cost index for Q4 will be released on Friday and should reveal a 0.3% (median 0.6%) increase on the quarter. This should put the y/y rate of growth at 2.1%, slightly slower than the 2.2% pace set in Q3. Growth in the benefits component has been driving gains lately and analysts expect to see benefits up 0.5% in Q4 with wages and salaries up 0.3%.