Next Week’s Menu: May 27 – June 2, 2023

May 26, 2023

Central Banks: Monetary policies to be reviewed in Thailand and Kyrgyzstan. Federal Reserve Beige Book of regional economic conditions and minutes from last European Central Bank governing council meeting to be published. Bowman and Jefferson from the Fed and ECB President Lagarde speak publicly during the week.

Events and Holidays: Turkey’s runoff presidential election happens Sunday. A deal to raise the U.S. debt ceiling passes congress, or else. There are market closures Monday in the U.S. for Memorial Day and U.K. for late spring bank holiday. Whit Monday will be observed in Germany and Switzerland, while Friday is Italy’s Republic Day.

Manufacturing Purchasing Manager Surveys: For May will be reported for over 30 economies, with the bulk of such arriving Thursday.

Scheduled U.S. Data Releases: Quarterly productivity and unit labor costs. Monthly construction spending, motor vehicle sales, Labor Department employment situation, Chicago PMI, FHFA and Case Shiller house price indices, Dallas Fed manufacturing index, JOLTS index of job openings, hires and separations, Conference Board consumer confidence index, and ADP estimate of private sector jobs growth. Weekly jobless insurance claims, mortgage applications, energy inventories and chain store sales.

Euroland Releases: Consumer prices, unemployment, consumer confidence, economic sentiment, and money and credit growth.

Members of the Euro Area: French, Italian, Irish, Portuguese, Austrian, and Belgian GDP. German, Italian, Spanish, French, and Cypriot consumer prices. German, Spanish, Dutch, and Irish retail sales. Italian, French, and Cypriot producer prices. Italian and Portuguese industrial production. French consumer spending, Finnish consumer sentiment, and Italian industrial sales. Irish and Spanish current accounts. Spanish business sentiment and German unemployment.

U.K. and Switzerland: British Nationwide house price index, money growth and shop prices. Swiss GDP, KOF leading indicators index, ZEW expectations index of investor sentiment, and trade balance.

Eastern Europe: Russian retail sales, industrial production, business sentiment and unemployment. Hungarian PPI, GDP and trade balance.

Nordic Europe: Danish, Swedish and Icelandic GDP. Swedish current account, trade balance, and consumer sentiment. Danish CPI and retail sales.

Japanese Releases: Industrial production, retail sales, housing starts, unemployment, construction orders, unemployment and the monetary base.

Selected Other Asian Release: South Korean industrial production, trade balance and CPI. South Korea, Singaporean and Hong Kong retail sales. Indian and South Korean GDP. Malaysian and Singaporean PPI.

Australia, Turkey, and South Africa: Australian and South African money and private credit growth. South African and Turkish trade balances. Turkish GDP.

Canadian Releases: Quarterly GDP and current account. March GDP.

Brazil and Mexico: Brazilian and Mexican unemployment. Brazilian PPI, GDP, and unemployment. Mexican business confidence.

Copyright 2023, Larry Greenberg. All rights reserved.  No secondary distribution without express permission. 



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