What to Expect This Week

This week, in the United States, advanced GDP reading for second quarter is likely to confirm some mild signs of improvement in the world’s largest economy. Still, July consumer confidence may fall again and June durable goods orders are expected to decrease due to a drop in transportation orders.

In the Euro Area, unemployment rate for June is likely to increase less than in May and inflation may decrease further as food and energy prices continue to fall. Yet, in a positive note, we expect a fourth consecutive rise in economic confidence for July. In Japan, unemployment rate may pick up to 5.3% from 5.2% in May. Furthermore, nationwide core CPI is likely to have fallen to -1.5% in June from -1.1% in the previous month. In the United Kingdom, the only significant release is a encouraging rise in mortgage approvals.  Finally, the Reserve Bank of New Zealand holds its monthly meeting on Monetary Policy but we don’t expect any changes to the benchmark level of interest rate.

Anna Fedec, contact@tradingeconomics.com
7/26/2009 1:35:12 PM