Next Week

January 19, 2018

World Economic Forum: Annual conference in Davos, Switzerland, bringing together leaders of business, politics and academia. This year’s theme is “Creating a Shared Future in a Fractured World.” The WEF begins Tuesday and runs through the end of the week.

Central Banks: Both the Bank of Japan and European Central Banks will be holding policy reviews. Governor Kuroda and President Draghi will hold press conferences afterward. The BOJ’s meeting coincides with publication of the quarterly Outlook for Economic Growth and Prices. Monetary policy meetings are also scheduled next week at the Bank of Norway, Bank Negara Malaysia, and Czech National Bank.

Holiday: Australia Day on Friday.

Scheduled U.S. Statistical Releases: Initial estimate of fourth-quarter GDP. Monthly new and existing home sales, durable goods orders, the Richmond and Kansas City Fed manufacturing indices, the advanced trade deficit estimate, the FHFA house price index, and the index of leading economic indicators. Weekly jobless insurance claims, chain store sales, consumer comfort, mortgage applications and energy inventories.

Euroland: Preliminary purchasing managers index, money and bank lending growth, consumer confidence and ECB survey of forecasters.

Members of the Euro Area: German and French preliminary PMI surveys. ZEW investor sentiment toward Germany and Euroland. German IFO business climate. French, Dutch, and German consumer confidence. Spanish and Finnish producer prices. French business sentiment and index of leading economic indicators. Spanish and Greek current accounts. Austrian and Cypriot industrial production. Spanish unemployment, Irish PPI and Italian industrial orders.

U.K. and Switzerland: Britsih GDP, unemployment, wage growth, public sector net borrowing, mortgage approvals, Rightmove house price index, and the CBI monthly surveys of industrial trends and distributive trades. Swiss money growth.

Nordic Europe: Swedish and Danish retail sales and consumer confidence. Norwegian business sentiment and unemployment. Swedish retail sales and trade balance. Icelandic wage costs.

Eastern Europe: Czech business and consumer sentiment.

Japan and China: Japanese consumer prices, corporate service prices, customs trade, department and supermarket sales, all industry index, machine tool orders, index of leading economic indicators, and preliminary manufacturing purchasing managers index. Chinese corporate profits and index of leading economic indicators.

Selected Other Asian Data: South Korean retail sales, industrial production, GDP, consumer confidence, and PPI. Singapore CPI, industrial production and unemployment. Hong Kong trade and CPI. Indian index of leading economic orders.

Australia and New Zealand: Australia’s index of leading economic indicators. New Zealand service sector purchasing managers index, ANX activity outlook index, and 4Q consumer prices.

South Africa and Turkey: South African CPI, PPI, and index of leading economic indicators. Turkish consumer sentiment.

Canada, Brazil and Mexico: Canadian retail sales, consumer prices and wholesale turnover. Brazilian current account and consumer sentiment. Mexican trade balance.

Copyright 2018, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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