@ The White House
In the morning, the President will travel to the Charlotte, North Carolina area. In North Carolina, the President will visit Daimler Trucks North America Mt. Holly Truck Manufacturing Plant where he will tour a production facility and deliver remarks on the economy. In the afternoon, the President will depart North Carolina en route Washington, DC.
@ Wall Street
Productivity, Final (percent change, Q4): Fourth-quarter productivity growth should be revised up on a small upward revision to output and a downward revision to hours of about 0.6%-0.7%. Growth in unit labor costs should be revised up more than a percentage point in the fourth quarter, on an upward revision to compensation. There will be an even bigger upward revision to unit labor cost growth for the third quarter, since the upward revision to compensation growth for that quarter was huge. Faster growth in compensation is good news for consumer incomes, and is consistent with the recent picture of slower corporate earnings growth.
