Vital Signs for the Week of Oct. 31

On tap: The October employment report, third-quarter productivity, September personal income, the ISM's business activity reports, and more

It's unclear just how much slack is left in the U.S. economy. In the third quarter, real gross domestic product grew by a faster-than-expected 3.8% annualized rate. A rate of growth that strong would imply that the economy is still growing fast enough to absorb unused labor, idle factory equipment, and empty office space. As the economy gets closer to operating at full tilt, inflation could pick up beyond the energy sector.

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