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November 27, 2025
November 26, 2025
Preview: Due December 1 - U.S. November ISM Manufacturing - Firmer but still short of neutral
November 26, 2025 2:58 PM UTC
We expect November’s ISM manufacturing index to see a modest increase to 49.0 from 48.7 in October, while remaining slightly below September’s 49.1 and below the neutral 50 level for a ninth straight month.
UK Budget Review: Deferring the Fiscal Pain?
November 26, 2025 2:01 PM UTC
The Budget looks something of a fudge, with no fiscal tightening until 2028 suggesting policy changes very much back-loaded (Figure 1) and puzzlingly timed to take effect in what may be the lead-up to the next general election. The immediate the result is actually a modest boost to GDP growth in t
U.S. Initial Claims, September Durable Goods Orders - trends healthy
November 26, 2025 1:59 PM UTC
The latest set of US data is on the strong side of expectations, with initial claims at 216k from 222k the lowest since April. September durable goods orders are on consensus with a 0.5% increase but the ex-transport rise of 0.6% is on the firm side and trend is improving.
Preview: Due November 28 - Canada Q3/September GDP - September rebound to keep Q3 positive
November 26, 2025 12:58 PM UTC
We expect Q3 Canadian GDP to increase by 0.6% annualized, marginally stronger than a 0.5% estimate made by the Bank of Canada with October’s Monetary Policy report, with September GDP to increase by 0.2% on the month, slightly stronger than a preliminary estimate of 0.1% made with August’s data.