Next Week

February 28, 2014

It’s PMI week.  Manufacturing purchasing manager surveys will be released for China, Australia, Spain, Switzerland, France, Italy, Germany, Euroland, Greece, the Netherlands, Russia, Britain, the United States, South Korea, Taiwan, Vietnam, Indonesia, India, Ireland, Poland, Turkey, the Czech Republic, Canada, Mexico, Sweden, Denmark, Singapore, Norway, South Africa and Hungary.  Private PMI’s arrive for Hong Kong, Saudi Arabia, Egypt and the United Arab Emirates.  Retail PMIs are due for the euro area, Germany, France and Italy.  And service-sector PMIs get reported for China, Australia, India, the United States, Euroland, Britain, Germany, France, Spain, Italy, Ireland, and Brazil.

Central banks in the euro area, Canada, Australia and Britain have scheduled interest rate policy meetings.  The Fed Beige Book of regional economic trends will be released, while messrs Plosser, Fisher, Williams, Dudley and Lockhart are among the Fed officials speaking publicly next week.

The U.S. data release calendar features the monthly jobs report and also includes personal income and spending, labor productivity and unit labor costs, factory orders, the trade deficit, the NAPM New York-area PMI index, the IBD/TIPP optimism index, motor vehicle sales, consumer credit and the usual suspects of weekly figures for jobless insurance claims, consumer comfort, chain store sales, energy inventories, and mortgage applications.

Euroland-wide statistics covering producer prices, retail sales, and revised GDP are due.  Some of the data from individual Ezone members arriving next week are German industrial orders, industrial production and wholesale prices; French trade figures and unemployment; Italian GDP and producer prices; Portuguese industrial output and retail sales; Belgian and Finnish GDP; Greek and Spanish unemployment; and Dutch consumer prices.

The British Homeland and Halifax indices of house prices will be released.  Some other U.K. data offerings in the week will be M4 money, mortgage lending and approvals, shop prices, car sales, and monthly GDP. 

Elsewhere in western Europe, Switzerland reports consumer prices, industrial output and unemployment.  Sweden releases the current account and industrial output.  Icelandic GDP and Danish industrial output are on tap.  From Eastern Europe, Romanian producer prices and retail sales, Czech and Romanian GDP, and Hungarian industrial production are some data to watch for.

Scheduled Japanese releases include auto sales, the monetary base, labor cash earnings, the index of leading economic indicators, and an estimate of quarterly business investment.  Elsewhere in Asia, CPI data arrive for Taiwan, the Philippines, Indonesia, Thailand, and South Korea.  Indonesian and Malaysian trade numbers get reported, and so do Thai consumer confidence and Filipino producer prices.

Australia offers up some meaningful reports including GDP, retail sales, and its trade balance.  Other Aussie releases include expected inflation, new home sales, and the current account. Turkish consumer and producer prices are both scheduled, as is New Zealand’s terms of trade (export/import price ratio).

Canada’s monthly labor force survey gets released Friday at the same time as the U.S. jobs report.  Other Canadian data in the week will be producer prices, the trade balance, and labor productivity.  The Brazilian trade balance and Mexican CPI and consumer confidence index are scheduled this week, too.

Copyright 2014, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.



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