22/05/15 European Economics Preview: German Ifo Business Confidence Data Due
Business confidence and detailed quarterly national accounts from Germany and public finance from the U.K. are the major reports due on Friday.
At 2.00 am ET, Destatis is slated to release final German gross domestic product data for the first quarter. According to preliminary estimate, the economy expanded 0.3 percent.
At 2.45 am ET, the French statistical office Insee is set to publish manufacturing confidence survey data. The corresponding index is forecast to remain unchanged at 101 in May.
At 3.30 am ET, Dutch consumer confidence and consumer spending reports are due.
Germany's Ifo business confidence is due at 4.00 am ET. Economists forecast the business confidence index to fall to 108.3 in May from 108.6 in April and the current conditions index to drop to 113.5 from 113.9. The expectations index is seen at 103 versus 103.5 a month ago.
In the meantime, Italy's industrial orders data is also. Orders are forecast to grow 0.7 percent month-on-month, slower than the 0.8 percent rise in February.
At 4.30 am ET, the Office for National Statistics is set to publish U.K. public sector finance data. The budget deficit is expected to widen to GBP 8.3 billion in April from GBP 7.4 billion in March.
At 5.00 am ET, Istat is scheduled to release Italy's retail sales data. Economists forecast retail sales to grow 0.2 percent month-on-month in March reversing a 0.2 percent fall in February.
21/05/15 European Economics Preview: Eurozone Flash PMI, U.K. Retail Sales Data Due
Flash Purchasing Managers' survey from euro area and retail sales from the U.K. are due on Thursday, headlining a busy day for the European economic news.
At 3.00 am ET, French flash PMI is due. The manufacturing PMI is expected to rise to 48.5 in May from 48 in April. The services PMI is seen at 51.9 versus 51.4 a month ago.
In the meantime, consumer confidence from Turkey and average gross wages from Hungary are due.
At 3.30 am ET, Markit is set to release Germany's PMI data. The manufacturing indicator is forecast to fall to 52 in May from 52.1 in April. Economists expect the services PMI to fall to 53.9 in May from 54 in April.
At 4.00 am ET, Eurozone flash PMI data is due. The composite PMI is expected to be unchanged at 53.9 in May.
In the meantime, the European Central Bank is set to release current account data. The Eurozone current account surplus is seen at a seasonally adjusted EUR 26 billion in March compared to EUR 26.4 billion in February.
At 4.30 am ET, the Office for National Statistics is slated to issue U.K. retail sales data. Economists forecast retail sales to rise 0.4 percent month-on-month in April reversing a 0.5 percent fall in March.
At 6.00 am ET, the U.K. Industrial Trends survey data is due from the Confederation of British Industry. The industrial order balance is seen at 3 percent in May versus 1 percent in April.
At 7.30 am ET, the European Central Bank is scheduled to release the account of the monetary policy meeting of the Governing Council held on April 14 and 15.
19/05/15 European Economics Preview: U.K. Inflation, German ZEW Survey Data Due
Consumer prices from the U.K. and economic sentiment from Germany are the major reports due on Tuesday.
At 2.00 am ET, the European Automobile Manufacturers Association is set to release new car registrations data for April. Registrations were up 10.6 percent in March from last year.
At 3.00 am ET, Czech producer prices data is due. Economists forecast prices to drop 2.6 percent annually in April after declining 2.9 percent in March. In the meantime, Austria's consumer price figures are also due.
At 4.30 am ET, the Office for National Statistics is slated to release U.K. consumer prices and producer prices for April. Consumer prices are forecast to remain flat in April from last year.
U.K. output prices are forecast to fall 1.6 percent year-on-year in April following a 1.7 percent decline in March. Economists expect input prices to fall 11.5 percent in April versus 13 percent decrease a month ago.
U.K. DCLG house prices data for March is also due from ONS at 4.30 am.
At 5.00 am, Germany's ZEW economic confidence survey results are due. The economic confidence index is expected to fall to 49 in May from 53.3 in April. Likewise, the current conditions index is seen at 68 versus 70.2 a month ago.
In the meantime, Eurostat is slated to issue Eurozone final inflation figures for April and foreign trade for March. According to preliminary estimate, consumer prices remained flat in April. The trade surplus is expected to fall slightly to a seasonally adjusted EUR 21.9 billion in March from EUR 22 billion in February.
At 8.00 am ET, Poland's average gross wages data is due. Economists forecast wages to fall 1.9 percent month-on-month in April after rising 5.8 percent in March.
18/05/15 Japan Core Machine Orders Climb 2.9% In March
Core machine orders in Japan were up 2.9 percent on month in March, the Cabinet Office said on Monday - worth 869.4 billion yen.The headline figure beat forecasts for an increase of 1.5 percent following the downwardly revised 1.4 percent decline in February) originally -0.4 percent).
On a yearly basis, core machine orders added 2.6 percent - also topping expectations for a decline of 6.0 percent following the 5.9 percent gain in the previous month.
The total number of machinery orders, including those volatile ones for ships and from electric power companies, climbed 1.8 percent on month and 7.8 percent on year to 2.492 trillion yen.
Manufacturing orders added 0.3 percent on month but slid 0.1 percent on year to 363.8 billion yen in March, while non-manufacturing orders gained 4.7 percent on month and 3.6 percent on year to 497.8 billion yen.
Government orders tumbled 19.3 percent on month and 0.2 percent on year to 219.6 billion yen. Orders from overseas dropped 13.5 percent on month and 1.3 percent on year to 922.5 billion yen. Orders from agencies shed 8.2 percent on month but gained 7.7 percent on year to 95.0 billion yen.
For the first quarter of 2015, core machine orders expanded 6.3 percent on quarter and 3.3 percent on year to 2,571.3 billion yen.
The total number of machinery orders, including those volatile ones for ships and from electric power companies, climbed 12.0 percent on quarter and 8.7 percent on year to 7,357.0 billion yen.
For the second quarter of 2015, core machine orders are forecast to have fallen 7.4 percent on quarter and 1.7 percent on year.
15/05/15 U.S. Producer Prices Unexpectedly Drop Amid Pullback In Energy Prices
Reflecting a sharp pullback in energy prices, the Labor Department released a report on Thursday showing an unexpected decrease in U.S. producer prices in the month of April.
The Labor Department said its producer price index for final demand fell by 0.4 percent in April after edging up by 0.2 percent in March. The index had been expected to show another 0.2 percent increase.
The unexpected drop in producer prices was largely to the steep drop in energy prices, which plunged by 2.9 percent in April after jumping by 1.5 percent in March.
Gasoline prices tumbled by 4.7 percent in April, although Paul Ashworth, Chief U.S. Economist at Capital Economics, said this was due to a quirk in the way producer prices are measured.
The report also showed a continued decrease in food prices, which fell by 0.9 percent in April after dropping by 0.8 percent in the previous month.
Excluding food and energy prices, core producer prices still dipped by 0.2 percent in April following a 0.2 percent increase in the previous month. Economists had expected core prices to inch up by 0.1 percent.
A 0.8 percent decrease in prices for trade services contributed to the unexpected drop in core prices, reflecting shrinking margins.
With the monthly decrease, the Labor Department noted that producer prices in April were down by 1.3 percent year-over-year compared to the 0.8 percent drop seen in March.
The report also said the annual rate of core producer price growth also slowed to 0.8 percent in April from 0.9 percent in the previous month.
Next Friday, the Labor Department is scheduled to release its more closely watched report on consumer price inflation in the month of April.
14/05/15 New Zealand Retail Sales Climb 2.7% In Q1
The total value of retail sales in New Zealand advanced a seasonally adjusted 2.7 percent on quarter in the first quarter of 2015, Statistics New Zealand said on Thursday - standing at NZ$19.3 billion.
The headline figure topped forecasts for an increase of 1.8 percent following the 1.7 percent gain in the three months prior.
Fuel retailing, down due to lower prices, was the only retail industry to have lower sales.After removing the impact of price changes, total retail sales volumes rose 7.4 percent on year.
All 15 industries had higher sales volumes, the stats bureau noted.The largest seasonally adjusted industry sales volume movements were: electrical and electronic goods retailing, up 8.9 percent; fuel retailing, up 3.5 percent; and hardware, building and garden supplies, up 3.9 percent.
12/05/15 European Economics Preview: U.K. Industrial Output Data Due
Industrial production from the U.K. is due on Tuesday headlining a light day for the European economic news.
At 3.00 am ET, the Czech Statistical Office is set to release consumer prices data for April. Inflation is forecast to double to 0.4 percent from 0.2 percent in March.
The Czech unemployment data is due from the Ministry of Labor and Social Affairs is due at 3.00. Economists forecast the jobless rate to fall to 6.8 percent in April from 7.2 percent in March. Hungary's final industrial output data is also due.
Turkey's central bank is set to release current account data. The current account deficit is expected to widen to $4.3 billion in March from $3.2 billion in February.
Half an hour later, Statistics Sweden is scheduled to release consumer prices for April. Inflation is seen at 0.3 percent in April compared to March's 0.2 percent. Underlying inflation is expected to rise to 1 percent in April from 0.9 percent in the prior month.
Dutch retail sales data for March is due. Sales were up 1.2 percent in February.
At 4.30 am ET, the Office for National Statistics is set to release U.K. industrial output data. Economists forecast industrial output to remain flat in March after rising 0.1 percent in February.
The Economic and Financial Affairs Council is set to meet in Brussels today. It will negotiate the proposal for the establishment of a strategic investment plan and also adopt in-depth reviews of macroeconomic imbalances in 16 member countries. Cyprus and Greece are not subject to the reviews.
11/05/15 China Responds To Sustained Slowdown With Third Rate Cut In 6 Months
China slashed interest rates for the third time in six months over the weekend in a bid to boost lending to businesses, adding stimulus to a slowing economy.
The People's Bank of China on Saturday cut both benchmark lending and deposit rates by 25 basis points to 5.1 percent and 2.25 percent, respectively.
The bank had cut rates previously in March. Prior to that, the bank lowered its lending rate in November for the first time in more than two years.
The latest reduction in interest rates is aimed to ease the funding costs for business to promote economic development as the country continues to face relatively big downward pressure, the PBoC said.
China's economic growth had eased to 7 percent in the first quarter, the weakest pace in six years, from 7.3 percent in the previous three months.
The research group also expects the government to play a part by speeding up spending on infrastructure and other government-led investment.
The PBoC also raised the ceiling on the deposit rate to 1.5 times from 1.3 times, giving more room for banks to set the deposit rates for their clients.
Official data released on Sunday showed that China's consumer price inflation rose to 1.5 percent in April from 1.4 percent in March. However, it was half of the government's target of 3 percent.
Producer prices declined for a 38th consecutive month, down 4.6 percent annually in April.
8/05/15 China's Exports Fall Unexpectedly In April
China's exports logged an unexpected fall on weak demand in April and imports declined more than expected adding to hopes of more economic stimulus.
Exports fell 6.2 percent in April from last year in yuan terms, data from the General Administration of Customs showed Friday. Economists had forecast a 0.9 percent rise for April.
Imports registered a double-digit decrease of 16.1 percent annually, sharper than an expected drop of 8.4 percent. Consequently, the trade surplus came in at CNY 210.2 billion, below the consensus forecast of CNY 173.8 billion.
In U.S. dollar terms, exports were down 6.4 percent from a year ago, slower than March's 15 percent decline. Exports were forecast to grow 1.6 percent.
At the same time, imports declined 16.2 percent versus 12.7 percent fall in March. The annual decline also exceeded a 12.2 percent fall forecast by economists.
As a result, the trade surplus increased to $34.1 billion in April from $3.1 billion in March. The surplus was expected to rise to $39.6 billion.
The data suggested that both foreign and domestic demand softened going into the second quarter, Julian Evans-Pritchard, a China economist at Capital Economics said.
Looking ahead, the economist is relatively sanguine over the outlook for Chinese trade despite today's disappointing data. Evans-Pritchard expects negative export growth to prove short lived and import growth to begin gradual recovery despite slowing investment growth.
The second-largest economy grew only 7 percent in the first quarter. Although it met the government target of around 7 percent, this was the weakest expansion in six years and slower than the 7.3 percent growth in the fourth quarter of 2014.
The World Bank forecast China to expand at a moderate pace of 7.1 percent in 2015 and 7 percent next year.
7/05/15 European Economics Preview: German Factory Orders Data Due
Factory orders from Germany and industrial output from France are due on Thursday, headlining a light day for the European economic news.
At 1.45 am ET, the State Secretariat for Economic Affairs is set to release Swiss consumer confidence survey data. The indicator is expected to fall to -11 in April from -6 in the prior quarter.
At 2.00 am ET, German factory orders data is due. Economists forecast orders to grow 1.5 percent month-on-month in March, reversing a 0.9 percent fall in February.
At 2.45 am ET, the French statistical office Insee is scheduled to issue industrial output data. Industrial output is forecast to rise 0.1 percent on a monthly basis in March after staying flat in February. Manufacturing production is expected to grow 0.2 percent.
In the meantime, the French trade data is also due. The trade deficit is seen at EUR 3.6 billion in March compared to EUR 3.5 billion in February.
At 3.00 am ET, the Czech Statistical Office is set to publish industrial and construction output and trade balance data. Industrial output is expected to grow 6.3 percent year-on-year in March following a 4.5 percent rise in February. The trade surplus is expected to rise to CZK 27.5 billion in March from CZK 18 billion a month ago.
Hungary's industrial output data is also due at 3.00. Economists forecast industrial output to rise 5.2 percent on a yearly basis in March compared to a 5.8 percent increase a month ago.
Half an hour later, Statistics Netherlands is set to release consumer prices for April. EU harmonized consumer prices are forecast to fall 0.4 percent on a yearly basis in April after decreasing 0.3 percent a month ago.
At 4.00 am ET, Norway's central bank is set to announce its interest rate decision. The bank is expected to leave its key rate unchanged at 1.25 percent.
At 7.00 am ET, the Czech central bank is slated to publish the outcome of its monetary policy meeting. Economists expect the bank to maintain its key repo rate at 0.05 percent.
6/05/15 Australia Retail Sales Rise 0.3% In March
The total value of retail sales in Australia added a seasonally adjusted 0.3 percent on month in March, the Australian Bureau of Statistics said on Wednesday, coming in at A$24.126 billion.
That was shy of forecasts for an increase of 0.4 percent and down from the 0.7 percent gain in February and the 0.5 percent increase in January.
The largest contributor to the rise came from department stores (3.8 percent), clothing, footwear and personal accessory retailing (2.2 percent), food retailing (0.4 percent) and other retailing (0.1 percent).
There were falls in household goods retailing (-1.0 percent) and cafes, restaurants and takeaway food services (-1.1 percent).
Online retail turnover contributed 3.0 percent to total retail turnover.
For the first quarter of 2015, retail sales were up 0.7 percent on quarter to A$69.788 billion - also below forecasts for 0.8 percent following the 1.5 percent jump in the previous three months.
5/05/15 European Economics Preview: EU Economic Forecast Due
Economic forecasts from the European Commission is due on Tuesday, headlining a light day for the European economic news.
At 3.00 am ET, Spain's labor ministry is set to issue unemployment data for April. Romania's producer prices data for March is also due.
At 3.30 am ET, Statistics Sweden is set to publish industrial production and orders data. Production is expected to rise 0.2 percent on a monthly basis in March after falling 0.1 percent in February.
At 4.30 am ET, Markit is set to release U.K. Purchasing Managers' survey results. The construction PMI is seen at 57.4 in April versus 57.8 in March.
Half an hour later, the EU Spring Economic Forecasts report is due. According to Winter forecast, the euro area will grow 1.3 percent this year and 1.9 percent in 2016.
Also, Eurostat is set to release producer prices data for March at 5.00 am. Producer prices are forecast to fall 2.3 percent year-on-year in March following a 2.8 percent drop in February.
4/05/15 European Economics Preview: Eurozone Sentix Investor Confidence Data Due
Investor confidence and final Purchasing Managers' survey results from euro area are due on Monday, headlining a light day for the European economic news.
At 2.30 am ET, Sweden PMI data is due. The manufacturing index is seen at 53 in April versus 54.1 in March.
Half an hour later, PMI reports are due from Hungary, Poland, Norway and Turkey. Consumer and producer prices are also due from Turkey at 3.00.
At 3.15 am ET, Markit is set to publish Spain PMI. The manufacturing indicator is forecast to rise marginally to 54.5 in April from 54.3 in March.
At 3.30 am ET, Switzerland's PMI data is due. Economists forecast the index to rise to 48.3 in April from 47.9 a month ago.
Thereafter final PMI reports are due from France, Germany and Eurozone. The Eurozone manufacturing PMI is expected to match the flash reading of 51.9 in April.
Also Norway's NAV jobless figures are due at 4.00 am ET. The jobless rate is expected to remain unchanged at 3 percent in April.
At 4.30 am ET, Eurozone Sentix investor confidence data is due. The indicator is forecast to fall to 19.3 in May from 20 in April.
29/04/15 European Economics Preview: Eurozone Economic Sentiment, Germany Inflation Due
Economic confidence from Eurozone and consumer price inflation from Germany are due on Wednesday, headlining a busy day for the European economic news.
At 2.00 am ET, U.K. Nationwide house prices are due. Economists forecast house prices to rise 4.1 percent on a yearly basis in April after increasing 5.1 percent in March.
Spain's retail sales and Hungary's unemployment reports are due at 3.00 am ET. Retail sales are expected to rise 3.6 percent annually in March after increasing 2.6 percent in February. Hungary's jobless rate is seen unchanged at 7.7 percent in March.
At 3.30 am ET, Riksbank is set to announce its interest rate decision. The bank is widely expected to cut its repo rate to -0.35 percent from -0.25 percent.
At 4.00 am ET, Eurozone M3 money supply data and business and consumer confidence from Italy are due. M3 money supply is forecast to grow 4.3 percent year-on-year in March after rising 4 percent in February.
Italy's business confidence is expected to fall slightly to 103.6 in April from 103.7 in March and consumer confidence to drop to 110.4 from 110.9 a month ago.
Norway's retail sales data is also due at 4.00. Economists expect sales to rise 0.3 percent month-on-month in March, slower than the 0.9 percent increase in February.
The European Commission is set to publish economic and business confidence survey results at 5.00 am ET. The economic confidence index is expected to remain unchanged at 103.9 in April. The business climate index is seen at 0.2 versus 0.23 in March.
The Confederation of British Industry is slated to issue Distributive Trades survey data at 6.00 am. The U.K. retail sales balance is seen at 25 percent in April compared to 18 percent in March.
At 8.00 am ET, Destatis is slated to release German consumer prices for April. Economists forecast prices to rise 0.4 percent on a yearly basis in April following a 0.3 percent increase in March. The harmonized index is expected to grow 0.2 percent annually, the same rate as seen in the prior month.
28/04/15 Australia Leading Index Rises 0.5% In February - Conference Board
A leading economic index for Australia gained for the third straight month in February, the latest survey from the Conference Board showed on Tuesday, gaining 0.5 percent.
That follows the 0.4 percent increase in January and the 0.5 percent gain in December.
For the six-month period ending in February, the index collected 0.6 percent compared to a 1.2 percent contraction in the six months prior. Additionally, the strengths among the leading indicators have remained more widespread than the weaknesses in recent months, the think tank said.
Five of the seven components that make up the Conference Board leading economic index for Australia increased in February.
The positive contributors to the index included rural goods exports, money supply, share prices, gross operating surplus and the yield spread.
Building approvals and the sales to inventories ratio declined in February. The coincident index gained 0.4 percent in February, up from 0.1 percent in January and 0.3 percent in December.
For the six-month period ending in February, the index advanced 1.5 percent - accelerating from the 0.6 percent gain in the previous three months. All four of the components for the Conference Board coincident economic index for Australia increased in February, including employed persons, household gross disposable income, retail trade and industrial production.
Taken together, the recent behavior of the composite indexes suggests that the economic expansion should continue in the near term, and the pace of growth may even pick up in the coming months, the board said.
24/04/15 European Economics Preview: German Ifo Business Confidence Data Due
Business confidence from Germany is the major report due on Friday, headlining a light day for the European economic news.
At 3.00 am ET, Spain's producer prices report for March is due. Producer prices were down 1.6 percent year-on-year in February.
In the meantime, the Czech Statistical Office is slated to release business sentiment survey data for April. The indicator stood at 11.6 points in March. Half an hour later, Statistics Netherlands is set to publish producer confidence data for April.
At 4.00 am ET, Germany's Ifo business confidence survey data is due. The business climate index is expected to rise to 108.4 in April from 107.9 in March. Germany's expectations index is seen at 104.5 compared to 103.9 a month ago and the current conditions index is forecast to improve marginally to 112.4 from 112 in March. Also, Poland's unemployment data is due. The jobless rate is expected to fall to 11.7 percent in March from 12 percent in February. Turkey's capacity utilization data is due at 7.30 am ET. Economists forecast the rate to rise to 73.6 percent in April from 72.4 percent in March.
Eurogroup finance ministers are set to meet in Latvia's capital Riga on Friday. Ministers will discuss the situation in Greece. According to the current agreements, the Greek authorities are working on a reform plan to be agreed with external lenders.
23/04/15 U.S. New Home Sales Pull Back Off Seven-Year High In March
After reporting a notable increase in U.S. new home sales in the previous month, the Commerce Department released a report on Thursday showing that new home sales pulled back by much more than expected in the month of March.
The report said new home sales plunged 11.4 percent to an annual rate of 481,000 in March after jumping 5.6 percent to a revised rate of 543,000 in February.
Economists had expected new home sales to drop to an annual rate of 518,000 from the 539,000 originally reported for the previous month.With the bigger than expected decrease, the annual rate of new home sales gave back ground after reaching a seven-year high in February.
Nonetheless, the Commerce Department noted that the rate of new home sales in March was up by 19.4 percent compared to the same month a year ago.
The number of homes for sale represents 5.3 months of supply at the current sales rate, up from 4.6 months of supply in the previous month.
On Wednesday, the National Association of Realtors released a separate report showing that existing home sales increased by much more than expected in the month of March.
With the bigger than expected increase, existing home sales rose to their highest level since reaching a matching rate in September of 2013.