Next Week’s Menu: May 30 – June 5, 2020

May 29, 2020

Next week ushers in the sixth month of 2020 and will be littered with several holidays and the release of many purchasing manager surveys. An uneven reopening of businesses will pick up pace.

Central Banks: The European Central Bank, Reserve Bank of Australia, National Bank of Poland and Bank of Canada are holding monetary policy reviews. ECB President Lagarde will hold a virtual press conference.

Holidays: A number countries in Europe will be observing the Pentecost on Monday, also known as Whit Monday. Also on Monday, Indonesians celebrate Pancasila Day, Ireland has a bank holdiday, and New Zealanders observe the Queen’s birthday. Tuesday will be Republic Day in Italy, and Denmark’s Constitution Day is slated for Friday, June 5.

Purchasing Managers Surveys: Most of the manufacturing surveys will be reported on Monday, but some will be released on Tuesday. The heaviest load of service sector PMI surveys arrive on Wednesday. During the week, an assortment of private sector, non-oil sector, and construction PMI survey findings for May also will be published.

Selected U.S. Economic Statistical Releases: Quarterly productivity and unit labor costs. Monthly labor market data (such as employment, average wage earnings, and the jobless rate), construction spending, the trade deficit, factory orders, ADP’s estimate of private sector jobs, and the NY regional PMI (NAPM) index. Weekly jobless insurance claims, consumer comfort, chain store sales, energy inventories, and mortgage applications.

Japanese Data: Quarterly investment and monthly reserves, monetary base in index of leading economic indicators.

Other Selected Asian Releases: Thai, Taiwanese, Filipino, South Korean and Indonesian consumer prices. Malaysian, Filipino, and South Korean trade balances. Hong Kong and Singapore retail sales. Thai and Taiwanese producer prices. Thai and Indonesian business confidence. South Korean and Thai current accounts. Filipino unemployment, Thai consumer confidence, and South Korean GDP growth.

Euroland Releases: Unemployment, producer prices and retail sales.

Members of the Euro Area: French, Italian, Belgian and Austrian retail sales. Spanish, Irish, Portuguese and Greek industrial production. German, Italian, Spanish, Austrian and Greek unemployment. Greek GDP and trade balance. German factory orders, Cypriot CPI, and Austrian wholesale prices.

U.K. and Switzerland: British shop prices, money growth, and Halifax and Nationwide house price indices. Swiss GDP, consumer prices, and retail sales.

Nordic Europe: Norwegian and Swedish industrial production. Norway’s current account and Swedish industrial orders.

Eastern Europe: Czech, Hungarian and Polish retail sales. Romanian and Hungarian producer prices. Hungarian trade and industrial production. Russian business confidence and CPI. Czech GDP.

Australia and New Zealand: Australian new home sales, corporate profits, retail sales, current account and trade balance. New Zealand building permits and terms of trade.

South Africa and Turkey: South African GDP, current account and business confidence. Turkish CPI and PPI.

Canada and Brazil: Canadian and Brazilian trade balances. Canadian productivity, unit labor costs, IVEY PMI index, employment, unemployment and average wage costs. Brazilian industrial production.

Copyright 2020, Larry Greenberg. All rights reserved. No secondary distribution without express permission.




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