Next Week

March 26, 2010

The coming week, which ends with Good Friday when numerous markets in North America, Europe, Asia, Australia and Latin America are closed, is packed with scheduled data.  The week encompasses the cusp between the first and second quarters of 2010, fiscal yearend in Japan and the public-sector budget year of several countries.  Europe shifts to daylight savings time on March 28, restoring the usual five hour-difference with the New York for London and six hour spread of many centers on the Continent like Brussels and Frankfurt.  Central banks will hold policy meetings in Hungary and Romania where analysts anticipate interest rate reductions , Israel where a rate increase is possible, and Poland where no change in rates is the likeliest result.

Purchasing manager indices for manufacturing and services from many countries provide a wide spectrum of information on activity, demand, and prices and are a handy means for comparing business cycles.  Euroland, Germany, and France already have announced preliminary figures which embody over 80% of the information used to calculate final results.  Among other planned releases….

The United States will be reporting the monthly Labor Department jobs data, personal income and sending, factory orders, auto sales, consumer confidence, the Case-Shiller house price index, the Dallas Fed index, consumer sentiment, construction spending and some regional PMI reports.  In addition, investors will get the usual weekly indicators on jobless insurance claims, consumer confidence, mortgage applications, money and credit growth, chain store sales, and energy inventories.  Geithner, Volcker and Lockhart are some of the key U.S. officials with speaking engagements next week.

This will be a very big week for Japan’s data calendar, too, featuring the Bank of Japan’s quarterly Tankan survey of businesses as well as monthly figures for retail sales, household spending, jobs and unemployment, industrial production, housing starts, construction orders auto sales, and the monetary base.

Aside from the PMI reports, Euroland announces new readings for unemployment, consumer prices, and economic sentiment including consumer confidence and industrial sector sentiment.  Germany releases retail sales, consumer prices, import prices and labor statistics.  France will announce the final revised data on fourth-quarter GDP as well as figures for housing starts and producer prices.  Italy reports CPI, PPI and wage figures.  Spanish and Belgian consumer prices are expected, too.

Britain’s slate is led by the PMIs, final 4Q GDP, and the fourth-quarter current account.  Consumer confidence, the Halifax and Nationwide house price indices, and consumer credit also arrive.

South Korea announces trade and current account figures, industrial production, and consumer prices.  Hong Kong retail sales, Malaysian, Thai, Indonesian, and Indian trade figures are due, too, as are Thai and Indonesian consumer prices.

Australia and New Zealand building permits are scheduled.  So are Aussie retail sales, trade data and private sector credit as well as New Zealand business confidence.  South African money growth and trade data are on the calendar, along with Turkish GDP and trades.

In Switzerland, the monthly consumption indicator and index of leading economic indicators get released, while Sweden reports retail sales.  Polish consumer prices and Hungarian producer prices are two of Eastern Europe’s scheduled releases.

In the Western Hemisphere other than the aforementioned U.S. releases, Canada reports producer prices and monthly GDP, Brazil announces capacity usage, and Mexico releases consumer prices. 

Copyright Larry Greenberg 2010.  All rights reserved.  No secondary distribution without express permission.


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