Next Week

September 30, 2011

Next week begins a new U.S. federal government fiscal year, the final calendar quarter of 2011, and the second half of Japan’s fiscal year.  Central banks in Australia, Euroland, the U.K., Japan, Poland and Peru hold policy meetings next week.  Germany will be closed Monday for Unity Day, and U.S. Treasury markets will close early Friday for the 3-day Columbus Day holiday weekend. Another meeting of EU finance ministers is scheduled for Tuesday.

A slew of purchasing manager surveys will be released.  Most of the manufacturing surveys arrive Monday, and the bulk of the service sector reports will be published on Wednesday.

The most significant U.S. release of the week will be Friday’s Labor Department jobs report, with street estimates centered on a 55K rise of jobs and an unchanged 9.1% unemployment rate for the third consecutive month.  Other U.S. data releases next week are the monthly budget, industrial orders, construction spending, the JOLTS report of hirings and firings, wholesale inventories, consumer credit, the ADP private jobs estimate and the usual weekly coverage of chain store sales, jobless insurance claims, consumer confidence, energy stocks and mortgage applications.    Lacker, Bernanke, and Geithner speak publicly next week.

The Bank of Japan’s quarterly corporate survey of conditions and expectations, the so-called Tankan, gets released at the start of the week.  Japan also reports the monetary base and the index of leading economic indicators.

In addition to the PMI surveys, Euroland retail sales and producer price figures will be reported.  So will German industrial orders and production, French and Finnish trade, Dutch and Greek consumer prices, and Spanish industrial output. 

Britain releases final GDP estimate, the current account, the manufacturing, construction, and service-sector purchasing manager surveys, producer prices and two house price indices, the Halifax and the Hometrack.  Swiss unemployment, consumer prices, and retail sales are scheduled, as are Icelandic trade, Norwegian and Danish industrial production, and Danish retail sales.  Romania and the Czech Republic announce industrial production, and trade figures from Hungary and the Czech Republic are due, too. 

Australia will be reporting trade data and commodity prices.  Turkey, Thailand and Mexico release both consumer and producer prices.  South Korean and Indonesian consumer prices are on the data calendar, and so are Indian and Malaysian trade statistics.

The Canadian monthly labor force survey will arrive on Friday ninety minutes before the release of the U.S. jobs report.  Canadian building permits are also scheduled next week. Brazil reports industrial production and the trade balance.

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


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