Next Week

March 4, 2011

Central Bank interest rate meetings will be held next week in New Zealand, Thailand, Britain, South Korea and Peru.  EU leaders are holding a summit at the end of the week.

Japan is releasing the following data: revised GDP, machinery orders, the index of leading economic indicators, money and credit growth, the current account and trade balance, the economy watchers index, corporate goods prices and machine tool orders.

There will be quite an abundance of national data reported in Continental Europe:  the French trade and current accounts, employment and industrial production; German industrial orders and output, trade and current account, and revised consumer prices; Italian GDP and industrial production, Spanish consumer prices; Swedish industrial production and consumer prices; Norwegian factory output, consumer prices and producer prices; Danish industrial production, current account and CPI; Portuguese GDP, consumer prices and trades; Belgian GDP and consumer prices; Dutch consumer prices; Greek consumer prices, industrial output, and unemployment, Swiss consumer prices and unemployment; Czech and Hungarian GDP and consumer prices; Czech and Romanian trades; and the Czech current account.  The Sentix gauge of investor sentiment toward the whole euro area arrives as well.

British same-store retail sales, trade data, shop prices, producer prices, industrial production, monthly GDP and RICs house price index are due. Iceland announces unemployment, the trade balance, and GDP.

China will be announcing February results for money and credit growth, the trade surplus, consumer and producer prices, fixed asset investment, retail sales and industrial production.  India and Hong Kong release industrial production as well.  The Philippines, South Korea and Hong Kong report producer prices. 

The key U.S. indicator will be retail sales.  Other releases next week are consumer credit, the NIFB and IBD/TIPP optimism surveys, wholesale and business inventories, the trade deficit, index of leading economic indicators, NAHB housing market index, the JOLTs Labor Department survey of job turnover, the U. Michigan consumer sentiment index, and the weekly checks of jobless claims, chain store sales, energy inventories, mortgage applications, and consumer confidence.

The Australian and Canadian data calendars are headed by monthly labor force surveys.  Canada also releases housing starts, building permits, house prices and its trade balance.  Australia will be reporting its construction purchasing managers survey, and bank loans to firms and households.  In New Zealand where food prices and factory output are due, the big news of the week is likely to be an interest rate cut by the central bank.  Turkey and South Africa release industrial production, and Mexico reports both consumer prices and producer prices.

Copyright Larry Greenberg 2011.  All rights reserved.  No secondary distribution without express permission.


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