Oct. Payrolls Seen +85k; Likely.....>

US DATA PREVIEW: Oct. Payrolls Seen +85k; Likely to Slow on Mfg

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- Oct. payrolls expected +85k BBG vs +136k Sept. 

- Weakness in mfg and services employment should hold down headline number. IHS

Flash PMI employment subindex seen falling at fastest pace since Dec 2009; ISM

Mfg index expected to remain in contractionary territory 

- Workers on strike rose to 47,700 Oct. vs 1,700 Sept. due to GM-UAW strike, and

should act as temporary drag on mfg and auto services payrolls 

- Private payrolls expected +80k BBG vs 114k Sept. But ADP seen +125k Oct. vs

135k Sept. when markets had expected +110 increase - Waning but still-strong

consumer confidence and low unemployment should prop up labor market this month.