Many Data Releases Tomorrow
January 8, 2009
Markets are understandably focused upon the U.S. December labor statistics, which are expected to produce a 7-handle on the jobless rate for the first time since June 1993 and the largest decline in jobs since December 1974.
There’s a considerable amount of other indicators being reported as well and not just from the United States. Canada also releases its monthly labor market survey results as well as housing starts.
Germany, France, Sweden, and Britain publish industrial production. All four changes will be downward, Germany and France to a substantial degree. Euroland, German and Norwegian resale sales arrive as well, and those will be lower. French trades will reinforce to gloomy picture of German trades released today. British producer prices will post monthly declines, as will Norwegian consumer prices.
The Bank of Korea will cut its benchmark rate of 3.0% by at least 50 basis points. The central bank reduced rates four times in the fourth quarter of last year by a total of 225 basis points.
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