The U.S. employment report for November highlights this week’s economic data. Economists, analysts and investors are also closely tracking the fast-spreading Omicron variant of the coronavirus to determine its impact on health and the broader economy.

Tuesday

China’s factory activity might contract for a third straight month in November as the country’s unprecedented property curbs together with persistently high raw-material prices soften demand. The market expects China’s official manufacturing purchasing manager’s index...

The U.S. employment report for November highlights this week’s economic data. Economists, analysts and investors are also closely tracking the fast-spreading Omicron variant of the coronavirus to determine its impact on health and the broader economy.

Tuesday

China’s factory activity might contract for a third straight month in November as the country’s unprecedented property curbs together with persistently high raw-material prices soften demand. The market expects China’s official manufacturing purchasing manager’s index to come in below 50 in November, the mark that separates contraction from expansion. China’s sprawling manufacturing sector has slowed this year due to power shortages, factory-gate inflation and a downturn in the real-estate market that has spilled over into investment and construction.

Consumer-price data published by the European Union’s statistics agency is expected to show that the annual rate of inflation in the eurozone rose to 4.5% in November from 4.1% in October. That would be the fastest rise in consumer prices in the 24-year history of the series, taking it further above the European Central Bank’s 2% target.

Wednesday

U.S. factories during much of the pandemic have been caught between robust demand alongside persistent shortages of parts and trouble attracting enough workers. The Institute for Supply Management’s manufacturing index for November will likely reflect that dynamic, with economists forecasting another solid month for new orders and output but also rising prices and long wait times for materials.

Friday

U.S. employers are expected to add more than half a million jobs for the second straight month in November as the economy continues to rebound from a summer slowdown induced by Covid-19’s Delta variant. Employers say they are eager to hire from a depleted pool of workers, leading to increased bargaining power and rising wages for many employees.