Next Week’s Menu: November 22 – 28, 2025

November 21, 2025

Central Banks: Monetary stances will be reviews next week in New Zealand, Sri Lanka, South Korea and Kyrgyzstan. Minutes from the last reviews will be published by central banks in Australia and Euroland. The European Central Bank also releases its Financial Stability Review.The Federal Reserve Beige Book, a compilation of corporate surveys conducted in each of the twelve regional districts will be published, and many central bankers have public speaking engagements including Lagarde, De Guindos, Cipollone and Lane of the ECB, Williams of the Fed and Noguchi of the Bank of Japan.

Special Events and Holidays: Leaders of the Group of Twenty hold a summit in South Africa this weekend. British Chancellor of the Exchequer delivers the Autumn Budget Statement on Wednesday. Japan will be observing Labor Thanksgiving on Monday, and the U.S. Thanksgiving holiday occurs Thursday.

Scheduled U.S. Data Releases: Consumer prices, producer prices, retail sales, the FHFA and Case-Shiller house price  indices, The Dallas and Richmond Fed manufacturing surveys, the Conference Board’s index of consumer confidence, the early estimate of the U.S. merchandise trade deficit, personal income and consumption, the PCE price deflator, new home sales, the Chicago regional purchasing managers index, durable goods orders, and pending home sales. Also weekly jobless insurance claims, energy inventories, chain store sales and mortgage applications.

Euroland Releases: Economic sentiment, consumer confidence, producer prices, car registrations, consumer inflation expectations, and money and credit growth.

Members of the Euro Area: GDP growth in Germany, France, Italy, Belgium, Latvia, Finland and Portugal. French, Spanish, Cypriot, Finnish, Latvian and Slovakian producer prices. German, Spanish, French, Italian, and Slovenian consumer prices. German, Estonian, Croatian, Slovenian, Lithuanian and Spanish retail sales. German import prices, unemployment and IFO Institute’s monthly survey of the business climate. French, Portuguese, Slovenian and Cypriot consumer confidence. Austria’s manufacturing purchasing managers survey and French household spending. Cypriot and Spanish industrial production.

U.K. and Switzerland: British shop prices and distributive trades survey. Swiss GDP, ZEW survey of investor sentiment and KOF leading economic indicators.

Eastern Europe: Czech consumer confidence and business sentiment. Russian, Bulgarian, and Hungarian producer prices. Russian GDP and corporate profits. Polish industrial production.

Nordic Europe: Norwegian, Swedish and Danish retail sales. Swedish, Norwegian and Icelandic GDP. Icelandic GDP.

Japanese Releases: Industrial production, retail sales, unemployment, housing starts, construction output and Tokyo consumer prices.

Selected Other Asian Data: South Korean, Indian and Singaporean  industrial production. Hong Kong trade balance. Indian and Singaporean GDP. South Korean retail sales,  industrial production, consumer confidence and business sentiment. China’s indices of leading and coincident economic indicators.

Australia  and New Zealand: Australian CPI, business investment, money growth and private domestic credit expansion. New Zealand business confidence.

South Africa and Turkey: South African trade balance, money growth, PPI and leading business cycle index. Turkish industrial production, business confidence and unemployment.

Canadian Releases: Third quarter GDP and current account. Monthly employment, industrial production, and GDP.

Brazil and Mexico: Brazilian and Mexican current accounts. Mexican retail sales and trade balance.

Copyright 2025, Larry Greenberg. All rights reserved.

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