Next Week

October 6, 2012

The United States, Japan, and Canada are closed Monday in respective observance of Columbus Day, Sports Day, and Thanksgiving.  Spain has a holiday on Friday.  Friday also sees the start of the IMF/World Bank semi-annual meetings, which are being held in Tokyo, and G7 finance ministers and central bankers, who will be attending, will be separately talking things over on Thursday.  A new World Economic Outlook from the IMF will be unveiled.

Interest rate policy meetings are scheduled in Brazil, Indonesia, and Peru.  The ECB Bulletin will be published, and the Fed and ECB are sponsoring a conference in Frankfurt on bank funding.  The Fed’s Beige Book, a compilation or regional economic conditions, arrives on Wednesday.  Three outspokenly hawkish Federal Reserve branch presidents — Fisher of Texas, Kocherlakota of Minneapolis, and Plosser of Philadelphia — will be speaking publicly next week.

In the week ahead, many countries are releasing industrial production, CPI and/or PPI figures, and trade data.

  • The list of countries reporting industrial output includes Germany, France, Greece, the Netherlands, Romania, the Czech Republic, Hungary, Turkey, India, Mexico, and South Africa.  Euroland also releases industrial production.
  • Consumer prices are due from Switzerland, Sweden Norway, Denmark, Romania, Portugal, Germany, France, Italy, Spain, Portugal, Greece, and Ireland.
  • Greece, Norway, South Korea, and Mexico announce producer prices.  German wholesale prices and Japanese corporate goods prices arrive as well.
  • Trade figures will be reported by the United States, Canada, Mexico, Germany, France, Finland, Portugal, Hungary, the Netherlands, Chile, Japan, Taiwan, the Czech Republic, and Denmark.  Current account figures will be reported for Germany, Japan, France, and Turkey.

Other U.S. economic indicators arriving in the coming week are the IBD/TIPP optimism index, the NIFB index of small business sentiment, import prices, wholesale inventories, the U. Michigan consumer sentiment index, the federal budget, and weekly checks of jobless insurance claims, chain store sales, consumer comfort, energy inventories, and mortgage applications.

Japan will release machinery orders, machine tool orders, the economy watchers index, the tertiary index, and money and bank lending growth.  China reports money and bank lending.  India releases consumer confidence, and South Korea reports unemployment.

The Sentix measure of investor confidence in the euro area is being released on Monday.  Revised Italian GDP is also scheduled.

From Britain, investors will learn the latest results of same-store sales, the RICs house price index, and the National Institute of Economic and Social Research’s monthly GDP estimate.  Swiss, Greek, and Icelandic unemployment are due.  So are Greek import prices and the Irish construction purchasing managers survey.

Canada releases housing starts, and Brazil reports retail sales.  Australian labor statistics, consumer confidence and business conditions and confidence all arrive.  So does New Zealand business confidence.  

Copyright 2012, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.


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