Next Week
May 18, 2013
There is not a heavy calendar of central bank meetings next week. The Bank of Japan and South African Reserve Bank are two of the few. However, the top officials of the Fed, ECB, Bank of Japan, Bank of England, and Bank of Canada each speak publicly. Draghi and Kuroda of the ECB and BOJ hold press conferences, while Bernanke testifies on the economic outlook on Wednesday before the Joint Economic Committee. Chicago and St. Louis Fed Presidents Evans and Bullard also speak in public. Minutes will be released by the FOMC, Bank of England Monetary Policy Committee, and Reserve Bank of Australia.
An EU summit in Brussels is scheduled for mid-week.
Britain has a pretty crowded data release calendar that includes revised GDP, the monthly service sector index, the PPI, CPI, RPI, ONS house price index, public finances, the CBI’s distributive trades survey, and the BBA estimate of mortgage approvals.
Preliminary results arrive of the May Euroland, German, and French purchasing managers surveys with composite, manufacturing, and service-sector data. Euroland’s current account and flash estimate of consumer confidence are due, too. Germany will be releasing GDP, consumer confidence, producer prices, import prices and the IFO business climate figures. France reports business sentiment and the index of leading economic indicators, while Italy’s calendar includes consumer sentiment, industrial orders, wage inflation, retail sales and the current account. Spain, Finland and Portugal report producer prices, and Spain’s trade balance arrives as well. Dutch and Belgian consumer confidence get released. So do Dutch consumer spending, the Greek current account and Austrian industrial production.
Some other European data to watch for are Swiss monetary statistics, Danish retail sales and consumer confidence, Icelandic wages, and Swedish unemployment. Further to the east, Russia releases industrial output and GDP, the Czech Republic reports business and consumer sentiment, and Poland releases retail sales, industrial output, and producer prices.
In a comparatively light week, U.S. new and existing home sales plus the FHFA house price index are scheduled, as are the Kansas City Fed manufacturing index, the Chicago Fed National Activity Index, durable goods orders, Markit’s estimate of the U.S. manufacturing PMI, and the usual weekly releases of jobless insurance claims, consumer comfort, chain store sales, mortgage applications, and energy inventories. U.S. treasury markets will close early on Friday ahead of the three-day Memorial Day holiday.
Canada and Mexico report retail sales. Other Mexican releases will be the current account, wholesale turnover, unemployment and the index of leading economic indicators (LEI).
Japan’s LEI is also due next week. So are machine tool orders, small business sentiment, customs clearance trade data, machine tool orders, and both the government’s and central bank monthly appraisals of economic conditions and prospects. The preliminary Chinese purchasing managers manufacturing index and home prices in that economy will be released. Thailand and Singapore report GDP. Several Asian countries are set to report unemployment including Hong Kong, Malaysia, and Taiwan. Hong Kong consumer prices, Singaporean industrial production and current account, and Filipino trades are due, too.
Australia releases expected inflation, consumer sentiment, and the index of leading economic indicators. New Zealand’s service-sector PMI index arrives, along with trade statistics, and South Africa releases consumer prices and the index of leading economic indicators.
Copyright 2013, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: Economic Data Calendar
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