Next Week

October 25, 2013

New Zealand observes Labor Day on Monday, and numerous European countries celebrate All Saints Day on Friday.

European clocks will be set back an hour this weekend.  The U.S. doesn’t go back to standard time until the following weekend.

Central bank interest rate policy meetings are planned at the Federal Reserve (but with no press conference or release of forecasts), the Bank of Japan (accompanied by the publication of a new Outlook for Economic Activity and Prices), and in India, New Zealand, Hungary and Israel.  BOJ Governor gives a press conference, and BOJ Board member Iwata also has a public speaking engagement next week.  Bullard, Lacker, and Kocherlakota are among the Fed officials speaking in public next week.  So does Reserve Bank of Australia Governor Glenn Stevens.

Manufacturing purchasing managers surveys will be reported for the United States, Britain, Japan, Australia, China, Turkey, Norway, Switzerland, the Czech Republic, Canada, South Africa, Brazil, Mexico, Russia, Taiwan, India, Sweden, the Netherlands, and South Korea.  Note that a number of euro area PMI reports will be delayed by the All Saints Day holiday.

There are several U.S. and Japanese data releases scheduled.  First the U.S. list.  It shows industrial production, pending home sales, the Dallas Fed manufacturing index, the Case-Shiller house price index, retail sales, producer prices, business inventories, the October federal budget, consumer confidence, consumer prices, personal income and expenditures, auto sales, construction spending, the Midwestern regional PMIs, plus quarterly 3Q GDP (first estimate) and the usual weekly assortment of jobless insurance claims, consumer comfort, energy inventories, chain store sales, and mortgage applications.

Japan will be reporting retail sales, household spending, unemployment and other labor market statistics, small business confidence, auto sales and production, construction orders, housing starts, and labor cash earnings.

Other Asian releases next week will be China’s index of leading economic indicators and corporate earnings; South Korean consumer prices, industrial production, business sentiment, consumer confidence, and the trade and current accounts; Thai, Singaporean and Malaysian producer prices; Indonesian and Thai consumer prices; and Singapore unemployment.

The Euroland data calendar shows consumer prices, unemployment, retail PMIs, economic sentiment, and index of leading economic indicators.  Germany releases retail sales, consumer confidence, labor statistics, and consumer and import prices.  France’s PPI, consumer confidence and consumer spending reports arrive.  So do Spanish GDP, CPI, and current account and Italian producer prices, consumer prices, unemployment, and business sentiment.  Greece, Ireland, and Portugal report retail sales.  Cyprus and Portugal release industrial production, and the Netherlands, Austria, Greece, and Cyprus are scheduled to announce latest PPI figures. 

There are two British house price measures due (one from Nationwide and the other from Hometrack).  The Confederation of British Industries reports its latest monthly survey of distributive trade activity, and the Bank of England releases money growth, mortgage approvals, and bank lending numbers.  The GFK gauge of U.K. consumer confidence is also scheduled.  Some other European reports will cover Swedish and Norwegian retail sales, Danish and Norwegian unemployment, Swiss consumption, and Icelandic producer prices.

Canada’s slate of releases shows monthly GDP, producer prices and raw material prices.  Brazilian industrial production, trade balance and PPI arrive.

Australia and New Zealand report on building permits.  Other Aussie data include new home sales, private credit growth and third-quarter producer prices.

South Africa and Turkey each announce trade numbers.  Turkey also releases consumer confidence, while South Africa will report money and credit growth.

Copyright 2013, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.



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