We're Going To Get A Crucial Test For The Economy This Week

Good news.

The economic data is going to come hot and heavy this week as the floodgates re-open in the wake of the government shutdown.

And fortunately, the data should give is some insight into what happened to the economy in October, while the government was shut down, and the flirted once again with breaching the debt ceiling.

Sam Ro put together a great guide to all the data that's coming out this week.

Among the big things we'll be watching: The ADP Jobs report on Wednesday (which will give us insight into the private sector), Chicago PMI on Thursday (regional manufacturing data) and the ISM on Friday, which will be one of our highest quality indicators for the month of October so far.

Already we've had Markit's Flash PMI, which was not good.

Here's the key chart (via SoberLook) indicating that manufacturers hit the skids during October amidst all the Washington stuff.

By the end of this week, we'll have a much better sense of how much the economy got derailed.