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Will data force Fed to discuss more cuts?

Wednesday brought more bad news for the economy, with downside surprises in the ADP employment number and the Institute for Supply Management’s non-manufacturing index. If Friday’s employment report also missed forecasts, another rate cut may be discussed when the Federal Reserve meets this month.

ADP said private-sector employment rose by 67,000 jobs in November, less than half of the 140,000 gain expected by economists, while the ISM index slid to 53.9 from 54.7, shy of the 54.5 level predicted by economists polled by IFR Markets.

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