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Wells Fargo Lowers Payroll F'cast On Soft Data

US OUTLOOK/OPINION

Some potential downward revisions coming to Friday's nonfarm payrolls estimates, in the wake of soft ADP and ISM Services Employment data.

  • Wells Fargo "incorporating updated information" has downwardly revised its NFP forecast to +300K from +400K (though still sees 3.5% unemp and 0.4% avg hourly earnings).
  • Current BBG consensus is +385k.

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