Next Week’s Menu: April 27-May 3, 2024
April 26, 2024
Central Banks: America’s Federal Reserve heads a group of scheduled monetary policy reviews that also includes central banks in the also includes those in the Czech Republic, Norway and Armenia. The FOMC will not be updating forecast at this meeting, but Chairman Powell will be holding a press conference Wednesday afternoon following the rate announcement. An article in today’s New York Times discusses the mounting political context of Fed policy, with the national election now just over six months away. The article reveals that Biden has been resisting calls by some of his political advisers have been urging him to emulate his predecessor in the sole respect of publicly jaw-boning Fed officials to cut rates. There is an unwritten rule that when political leaders complain publicly about restrictive central bank interest rates, it only undermines the credibility of monetary policy and prolongs how long it will take to restore price stability. A summary of this week’s Bank of Japan Board meeting will be released.
Holidays and Events: China and many European countries will be honoring workers on May Day, which falls this year on Wednesday. Finance ministers from the euro area hold their monthly meeting early in the week.
April Purchasing Manager Surveys: The release of manufacturing PMIs will be split over Wednesday and Thursday, with many delayed by the May Day holiday. Some of the service sector PMIs will arrive Friday.
Other Scheduled U.S. Data Releases: Quarterly productivity, unit labor costs, employment cost index. Monthly employment, unemployment, average hourly earnings, house prices indices (compiled respectively by Case-Shiller and the FHFA), factory orders, Dallas Fed manufacturing survey, Chicago’s regional PMI, motor vehicle sales, JOLTS data on job hires and quits, construction spending, and the goods and services trade balance. Weekly jobless insurance claims, energy inventories, mortgage applications and chain store sales.
Euroland Releases: Quarterly GDP and employment growth for the whole bloc as well as for each country using euro . Monthly consumer prices, economic sentiment, and consumer confidence.
Members of the Euro Area: German CPI, retail sales, retail sales, import prices and unemployment. French CPI, PPI, industrial production and consumer spending. Italian PPI. Spanish CPI, business confidence, unemployment, and business confidence.
British and Danish Data: Shop prices, Nationwide house price index, and mortgage approvals. Danish retail sales.
Japanese Data: Industrial production, retail sales, housing starts, construction orders, and unemployment.
Other Asia: Singaporean and South Korean retail sales. Singaporean producer prices and Indonesian consumer prices. South Korean industrial production, Hong Kong GDP and Singaporean business sentiment.
Australia and New Zealand: Australian retail sales and housing permits. New Zealand labor costs, employment and unemployment.
Turkey and South Africa: Turkish and South African trade balances. Turkish economic sentiment, CPI, and PPI. South African money growth and domestic credit expansion.
Canada, Mexico and Brazil: Canadian and Mexican GDP. Canadian trade balance and Mexican business confidence. Brazilian PPI, current account, industrial production and jobless rate.
Copyright 2024, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: Economic Data Calendar
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