What to Expect This Week

This week, in the United States, trade deficit probably widen in September as higher commodity and energy prices more than offset the benefits of a more competitive dollar exchange rate. In addition, jobless claims should remain unchanged confirming the difficult situation in the labor market.

In the Euro Area, industrial production should gain for a fifth consecutive month. We also expect an increase in third quarter GDP boosted by a rebound in inventories and gains in external trade.  In Japan, industrial production should also record its eight straight month of gains. In the United Kingdom, the Bank of England's quarterly inflation report will give a better picture of how the economy is doing. Also, unemployment rate is likely to  rise further. In Canada, trade deficit may post the worst reading in history as imports rose faster than exports. Finally, in Australia, unemployment rate is expected to rise slightly and business and consumer confidence may drop from current high levels on fears the Reserve Bank of Australia will continue to raise rates.

Anna Fedec, contact@tradingeconomics.com
11/8/2009 11:32:21 AM