Next Week

May 11, 2013

Central bank policy meetings are scheduled in the week to May 17 in Russia, Indonesia, Turkey, Chile, Serbia and Iceland.  The Bank of England’s quarterly Inflation Report arrives on Wednesday.  Bernanke, Williams, Plosser, Fisher, Kocherlakota, and Rosengren are some of the Fed officials, who’ll be speaking publicly.  So too will ECB Pdt Draghi and Bank of England Governor King. 

A meeting of Ezone finance ministers will be held in Brussels early in the week.

Call this GDP week because of the abundance of first-quarter GDP statistics to be released from, among others, Japan, Euroland, Germany, France, Italy, the Netherlands, Austria, Norway, Israel, Greece, Cyprus, Hungary, Portugal, the Czech Republic, Malaysia and Mexico.

Scheduled U.S. statistics will cover consumer prices, producer prices, industrial production, capacity usage, retail sales, import prices, business inventories, the Empire State and Philly Fed manufacturing surveys, the National Association of Home Builders index, the Treasury’s TIC review of portfolio and bank-reported capital movements, housing starts, building permits, small business confidence, the U. Michigan/Reuters consumer sentiment index, the index of leading economic indicators, and weekly numbers for chain store sales, jobless insurance claims, mortgage applications, energy inventories, and consumer comfort.

Japan releases monetary statistics, corporate goods prices, machinery orders, machine tool orders, the tertiary service-sector activity index, consumer confidence, revised industrial production, capacity usage, and the aforementioned first estimate of GDP.

Chinese retail sales, industrial production, foreign direct investment, and fixed asset investment are due.  Some upcomiing non Sino-Japanese statistics from Asia are the current accounts of Malaysia and Indonesia, Singapore retail sales, Indian and South Korean wholesale prices, and South Korean and Singaporean trade numbers.

Australia releases will include home loans, business confidence and conditions, motor vehicle sales, and quarterly labor costs. New Zealand’s data calendar lists food prices, house prices, producer prices, retail sales, the manufacturing PMI, and consumer confidence.  South African retail and wholesale turnover will be reported, and Turkey’s current account is another scheduled release.

Turning to Europe where the main feature will be a number of GDP reports from the Continent, other Ezone-wide releases will cover construction output, the ZEW index of investor sentiment, the trade balance, consumer prices and industrial production.  ZEW also reports on Germany, where two price data series, the CPI and WPI, are due as well.  CPI data are also scheduled in Spain, France, Portugal, and Italy.  Trade or current account figures are to be released by Ireland, the Netherlands, Portugal, Finland, and Belgium.  Finnish and Dutch retail sales are on tap, and so is the Irish construction purchasing managers index.

Other European releases will be British labor statistics, the U.K. index of leading economic indicators, and the Royal Institute of Chartered Surveyors house price index.  A trio of Swiss figures — the ZEW gauge of investor sentiment, producer prices and retail sales — are scheduled.  Denmark and the Czech Republic report producer prices, and Hungary, Poland, Iceland, and Sweden release consumer prices.  Icelandic unemployment and Norwegian trade numbers are due too.

Canada has a busy data week that includes the release of  existing home sales, the survey of manufacturers, securities transactions and consumer prices.  Mexico releases GDP, and Brazil will be reporting retail sales.

Copyright 2013, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.



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