Next Week

December 30, 2010

No holiday is more widely celebrated around the world than New Year’s Day.  British, Australian and Japanese markets will remain closed on Monday, and New Zealand’s observance will extend all the way to Tuesday.  Italy celebrates the Day of the Epiphany on Thursday.  Central bank decisions will be handed down by Bank Indonesia and the Bank of Romania on Wednesday.  Minutes from the last FOMC meeting will be released on Tuesday.  The Czech National Bank also publishes minutes of its last policy meeting next week.

The first week of 2011 will be a pretty active one from a data release standpoint.  Purchasing manager surveys for many countries get released, first covering manufacturing and later for service-sector activity.  A PMI survey is also due for Britain’s construction industry.  These PMIs provide a handy means for comparing the latest trends in different economies.

U.S. markets will focus on labor statistics.  The manufacturing and non-manufacturing PMIs include an employment component.  The ADP estimated rise in private jobs is due on Wednesday, followed by weekly jobless insurance claims on Thursday and the December Labor Department monthly jobs report on Friday.  Other U.S. releases on next week’s schedule include construction spending, factory orders, auto sales, the federal budget, consumer credit and weekly indications of energy inventories, consumer confidences, chain store sales, and mortgage applications.

Investors will learn the latest euro area figures on producer prices, consumer prices, industrial orders, retail sales, industrial, consumer and overall economic sentiment, and revised 3Q GDP.  Germany reports many national statistics: unemployment, retail sales, industrial production, industrial orders, the trade balance and the current account surplus.  French consumer confidence and trades are on next week’s calendar.  So are Italian, Dutch and Spanish consumer prices, Portuguese and Finnish trades, and Belgian and Spanish industrial production.

British arriving data will be covering M4 money growth, mortgage lending, consumer credit, shop prices, the Halifax house price index, and the first estimate of 4Q GDP growth from the National Institute of Economic and Social Research. Swiss unemployment and consumer prices are being released.  Norway releases retail sales and industrial output.  Icelandic producer prices and trades are due as well, as is Danish unemployment.

Further to the east and south, Hungary will be reporting its PPI and jobless rate. Romania releases retail sales, and Czech trades and industrial output are both scheduled, too.

Not much is arriving from Japan, just auto sales and the monetary base.  India and Indonesia report trade data.  Thailand and the Philippines release their CPI figures, and the latter also will be announcing its latest PPI results. 

Turkey also publishes consumer and producer prices.  Australia reports new home sales and building permits.

Ninety minutes before Friday’s U.S. labor report, Canada releases its labor force survey, with figures on employment, the jobless rate, and wage earnings.  Other Canadian releases next week cover producer prices, raw material prices, housing starts and the IVEY-PMI composite index.  Among noteworthy Latin American releases, Brazil will be reporting on industrial production and consumer price trends, while Mexico publishes its CPI and also consumer confidence.

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


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