Next Week

April 27, 2014

The coming week, which encompasses end-April and the start of May includes FOMC and Bank of Japan policy meetings, a speech by Janet Yellen, several market closures for May Day, and numerous data releases.  Hungary and Israel also have monetary policy meetings.  Japan’s first Golden Week holiday, Showa Day, is on Tuesday.

The U.S. data release calendar features the monthly labor force survey and also includes the Case Shiller house price index, ADP’s estimate of private employment, jobless insurance claims, the employment cost index, first-quarter GDP, regional PMIs for Chicago, Milwaukee and New York, construction spending, motor vehicle sales, factory orders, the Dallas Fed manufacturing index, pending home sales, consumer confidence, personal income and spending, and weekly observations of consumer comfort, mortgage applications, chain store sales and energy inventories. 

The U.S. manufacturing purchasing managers index arrives.  So do April manufacturing PMIs for many other economies, including Japan, Euroland, Germany, Italy, France, Spain, Greece, Ireland, the Czech Republic, Hungary, Poland, Sweden, Norway, Denmark, Switzerland, Britain, Mexico, Brazil, Turkey, South Africa, Ireland, China, Indonesia, Australia, Russia, China, India, and Canada. 

Some of the scheduled euro area statistics are unemployment, M3 money and credit, business and consumer sentiment, the index of leading economic indicators, and projected GDP growth made by the EU Commission.  German import prices, consumer prices, retail sales, unemployment, and consumer sentiment are due.  Italy and France both report consumer confidence and producer prices.  Italy also releases the CPI, jobless rate, business sentiment and retail sales.  France reports consumer spending, and Spain announces the CPI, current account, unemployment and GDP.  Other member data releases due next week are Greek producer prices and retail sales; Portuguese retail sales, industrial output, consumer confidence, and business sentiment; and Belgian GDP.

Arriving British data include the trade deficit, the Nationwide and Hometrack house price indices, GDP, mortgage approvals, money growth, and consumer sentiment. Switzerland’s index of leading economic indicators, Norwegian retail sales, Swedish consumer confidence, and Icelandic producer prices arrive as well.

Japan is reporting retail sales, unemployment, industrial output, small business sentiment, housing starts, construction orders, household spending, the monetary base, auto sales and auto production.  The Bank of Japan releases its semi-annual outlook of economic activity and price trends.

Other Asian releases of note include Chinese corporate profits; the trade balances of Hong Kong, Thailand, and Indonesia; South Korea’s current account, industrial production, and CPI; Singaporean, Malaysian and Thai producer prices; and Thailand’s CPI.

Canadian real wage earnings, producer prices, raw material prices, and monthly GDP are due.  So are the Mexican and Brazilian trade balances.

Australia’s data calendar shows import and export prices, money and credit growth, building permits, the trade balance and producer prices.  New Zealand also reports building permits and the trade balance, as well as business sentiment. Turkish industrial output and South African money, credit and trade figures are scheduled.

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



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