Next Week

May 7, 2010

A critical state election in Germany’s most populous region, North Rhine Westphalia, on May 9 will likely cause the conservative party of Chancellor Merkel to lose its majority in the upper house of parliament, complicating future efforts to legislate structural reforms.  Next week also sees the final dash for all members to approve the aid package for Greece.  Meanwhile, central banks in Britain, South Korea, South Africa, Chile, Malaysia and possibly Russia hold interest rate policy meetings.  Minutes from the Bank of Japan’s April 6-7 Board meeting arrive.  The Bank of England publishes its quarterly Inflation Report, and the ECB May Bulletin gets released.

Many European countries release first-quarter GDP figures: Germany, France, Italy, Spain, the Netherlands, Hungary, the Czech Republic and the entire euro area.  This is the week when China releases a month’s worth of economic indicators, covering money and credit growth, producer and consumer prices, retail sales, industrial output, and fixed asset investment.  Trade data arrive from the United States, Japan, Britain, Germany, China, and Canada.  Industrial production figures will be reported in India, South Africa, China, Turkey, the United States, Italy, France and Euroland.

Other U.S. data include the monthly federal budget, import prices, retail sales, the U. Michigan index of consumer confidence, business and wholesale inventories,  plus weekly figures on chain store sales, energy stocks consumer sentiment, mortgage applications and jobless insurance claims.

In addition to its trade and current account numbers, Japan reports money and credit growth, the index of leading economic indicators, the economy watchers index, and the private consumption indicator.

Consumer price numbers get released by Germany, France, Spain, Italy, Poland and the Czech Republic.  Norway reports both consumer and producer prices, and Swiss producer and import price data arrive.

A number of British statistics are scheduled: the RICs aand DCLG house price gauges, unemployment, wage earnings, productivity, same store sales, and the aforementioned trade figures.

In Canada, housing starts, home prices, manufacturing sales, auto sales, and existing home sales are due.  Brazil will released retail sales, and Argentina’s CPI and PPI both get reported.

Australia’s data calendar features the monthly jobs and unemployment report but also includes mortgage finance and job ads.  New Zealand releases retail sales, the purchasing managers survey and house prices.  South Korea announces producer prices, export and import prices, and unemployment.  Hong Kong GDP is scheduled.

Copyright Larry Greenberg 2010.  All rights reserved.  No secondary distribution without express permission.


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