The weather-related weak economic data is behind us with very strong data expected.
The last of the weather-impacted economic data for February was released last week. Investors can now look forward to what are expected to be huge increases in March. The first of that data will be released this week with Consumer Confidence and the ISM Index due out in the middle of the week and the employment data on Friday. More of the economy is opening as vaccinations are being made at an accelerating rate. Consumer Confidence is expected to move above 91 as compared to the 87.0 reading in December before the vaccines began to be distributed. The ISM Index is expected to come in above 61 after being below the neutral level of 50 in the second quarter of last year. A reading of 61 would be the highest level this year. Finally, the employment report is forecast to report a drop in the unemployment rate and huge growth in nonfarm payrolls.
PROBANK AUSTIN ADVISOR - MARCH 29, 2021