Next Week
October 22, 2010
A very busy week lies ahead beginning with a G20 statement tomorrow. Central bank policy meetings will be held in Israel, Hungary, India, Poland, the Czech Republic, Sweden, Norway, New Zealand, and Japan where a new quarterly outlook with forecasts will also be published. The Reserve Bank of Australia publishes its annual report. Many Fed officials will be speaking including Bernanke, Dudley, Hoenig, Cummings, and Bullard. Former Vice Chairman Kohn also speaks, as do the top central bankers at the ECB (Trichet), Japan (Shirakawa), Canada (Carney) and Australia (Stevens). Weber from the ECB, Bean, Tucker and Posen from the Bank of England and Nishimura from the BOJ also have planned speeches.
Scheduled Japanese statistics cover customs trade, corporate service prices, small business sentiment, retail sales, unemployment and jobs, the manufacturing purchasing managers index, auto output, household spending, consumer prices, industrial production, housing starts and construction orders.
Euroland data will be released for industrial orders, M3 and bank credit, overall economic sentiment, industrial confidence, consumer confidence, consumer prices, unemployment and the retail purchasing managers index.
Within the euro area, Italy announces its CPI, PPI, wages, business sentiment and consumer confidence indices. French producer prices, consumer spending, and consumer confidence are due. So are German consumer prices, labor statistics, retail sales, import prices and consumer confidence.
From Switzerland, investors will be getting the index of leading economic indicators and the consumption indicator index. Sweden reports trade figures, producer prices, retail sales and business sentiment.
Britain’s data calendar includes mortgage approvals, M4 growth, consumer credit, a monthly survey by the CBI of retail sector activity, the Nationwide house price index, consumer confidence and, most importantly, the first estimate of 3Q10 GDP growth and an accompanying breakout of service sector activity.
In the United States, Kansas City, Dallas, Richmond and Chicago manufacturing indices all arrive next week. So do the Chicago and Milwaukee purchasing managers factory-sector indices. Several property market data are also scheduled: new home sales, existing home sales, the Case-Shiller house price index, and the FHFA index. The Conference Board and U. of Michigan each report their consumer confidence measures, and durable goods orders will be reported. But as in the U.K., the initial estimate of third-quarter GDP growth and the various components of demand are likely to draw the most attention. Weekly indications of chain store sales, energy inventories, jobless insurance claims, consumer confidence and mortgage applications will be scrutinized, too.
Canadian releases next week will cover monthly GDP, producer prices, raw material prices and wage earnings. Australia and New Zealand have quite a few releases, also. Aussie producer and consumer prices for the third quarter are on the calendar, as are business sentiment, new home sales, private sector credit growth, and the index of leading economic indicators. New Zealand business sentiment, M3, trades, building permits and inflation expectations will get reported.
Singapore releases industrial production, labor figures, the CPI and the PPI, and South Korea announces GDP and industrial output statistics.
Copyright Larry Greenberg 2010. All rights reserved. No secondary distribution without express permission.
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