Next Week

March 6, 2017

Central Banks: Interest rate policy meetings are scheduled next week at the ECB (which will include new macroeconomic forecasts and be followed by ECB President Draghi’s press conference) and in China, Poland, Australia, and Peru. Governor Wheeler of the Reserve Bank of New Zealand speaks publicly, but Federal Reserve will be observing their practice of rhetorical silence in the period prior to an FOMC meeting.

Special Event: Britain’s Chancellor of the Exchequer will present the government’s budget to parliament on March 8th.

Purchasing Manager Surveys: Just a few will be released in contrast to this past week. These include the retail PMIs for Euroland, Germany, France and Italy, the German and Australian construction PMIs, and non-oil PMIs for Lebanon, Saudi Arabia, Egypt and the U.A.E.. Brazilian services PMI.

Scheduled U.S. Statistical Releases: The feature release is Friday’s Labor Department monthly jobs report. Also on tap are the trade balance, the federal monthly budget, factory orders, small business sentiment, the ADP estimate of private jobs creation, productivity, unit labor costs, the IBD/TIPP optimism index and weekly jobless insurance claims, consumer comfort, mortgage applications, chain store sales and energy inventories.

Japanese Data: The current account, money growth, bank lending, revised GDP, the economy watchers index, machine tool orders, reserves, bankruptcies, labor cash earnings, and corporate goods prices.

Chinese Statistics: CPI, PPI, money and lending, foreign direct investment, index of leading economic indicators, and the trade balance.

Selected Other Asia Data: Filipino consumer prices, producer prices and trade balance. Singaporean and Indonesian retail sales. Indian industrial production and Indonesian consumer sentiment.

Euroland: Revised GDP and the Sentix gauge of investor sentiment.

Members of the Euro Area: German orders, industrial output, current account, trade balance, WPI, labor costs, and index of leading economic indicators. French, Spanish, Greek, Finnish and Irish industrial production. French and Irish current accounts. French business sentiment and Spanish retail sales. Greek and Cypriot GDP. Portuguese, Dutch and Cypriot consumer prices. Greek unemployment and Austrian wholesale prices.

U.K. and Switzerland: British same store sales, trade balance, industrial production, construction output, monthly GDP, RICs housing index, and Halifax house price index. Swiss unemployment and CPI.

Eastern Europe: Romanian and Hungarian GDP and CPI figures. Hungarian and Czech trade balances. Czech consumer prices and Hungarian industrial output.

Nordic Europe: Norwegian and Danish consumer prices. Icelandic GDP. Norwegian industrial output and PPI.

Canada: Labor statistics, productivity, unit labor costs, trade balance, IVEY-PMI index, housing starts, building permits, and capacity utilization.

Brazil and Mexico: Brazilian GDP, CPI, PPI, and industrial output. Mexican CPI, PPI, and consumer confidence.

Australia and New Zealand: Aussie retail sales, home loans, and business confidence. New Zealand manufacturing activity and building permits.

Turkey and South Africa: Turkish retail sales and industrial output. South African business sentiment.

Copyright 2017, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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