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European data for Friday includes the run of manufacturing PMIs for March, including the final readings fro France (0648GMT) and Germany (0653GMT) as well as the main EMU release (0658GMT) all of which are expected to confirm their preliminary releases. Further EMU data at 0900GMT is expected to see EMU unemployment remain at 9.9% for February.
The main release comes at 1230GMT, when non-farm payrolls are expected to rise 192,000 in March following the weather-related movements in the previous two months, as indicators such as weekly jobless claims point to continued improvement. Private payrolls are seen up 195,000. The unemployment rate is forecast to stay at 8.9% after three straight declines. Hourly earnings are expected to post a 0.2% rise following the flat February reading and the 0.4% January gain.
US data continues at 1400GMT with the ISM data and also Construction Spending. The ISM manufacturing index is expected to rise slightly to a reading of 61.5 in March from 61.4 in February. Regional data already released suggest that the pace of growth accelerated. Construction spending is forecast to fall 0.3% in February after declines in the previous two months on sharp non-residential construction contraction. Weather continued to be a factor in the data
in February. In addition, housing starts fell sharply in February, a negative for residential construction in this report.
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