Week Ahead


Next week, the most important data for the US include the final estimate for GDP growth, PCE inflation, personal income and spending, durable goods and new home sales. Investors will also be looking for updated UK GDP figures; inflation for the Euro Area, Germany, France and Italy; Japan inflation and unemployment and China PMIs. The result of the German federal election will also be on the spotlight.

It will be a busy week in the US. Important data to be released include the final estimate for Q2 GDP growth; new home sales; pending home sales; durable goods; personal income and spending; PCE inflation; the final Michigan consumer sentiment; CB consumer confidence; S&P/Case-Shiller house prices; Chicago Fed National Index; Dallas Fed Manufacturing Index; Richmond Fed Manufacturing Index; Kansas Fed Manufacturing Index; Chicago PMI and final figures for Q2 corporate profits. 

Elsewhere in America, investors will be waiting for Canada monthly GDP and PPI; Brazil unemployment, current account and FDI; Mexico and Colombia monetary policy decisions.

In the United Kingdom, in the spotlight will be: final GDP growth for Q2; BBA mortgage approvals; Gfk consumer confidence; current account; BoE mortgage approvals and lending; BoE consumer credit and Nationwide house prices. 

Elsewhere in Europe, important releases include preliminary inflation figures for the Euro Area, Germany, France, Italy and Spain; Euro Area loan growth and business confidence; Germany IFO business climate, Gfk consumer confidence and unemployment; France business, consumer confidence and unemployment claims; Italy business and consumer confidence.

Next week will provide a deeper update on the Japanese economy. Important data include: flash manufacturing PMI; inflation; unemployment; industrial production; retail sales; construction orders and housing starts. 

China will release figures for official manufacturing and non-manufacturing PMI. Industrial profits and the Caixin manufacturing PMI will also be closely watched.



Joana Taborda | joana.taborda@tradingeconomics.com
9/22/2017 5:18:40 PM



 


Friday September 22 2017 Actual Previous Consensus
06:45 AM
FR
GDP Growth Rate QoQ Final Q2 0.5% 0.5%
07:00 AM
FR
Markit Services PMI Flash SEP 57.1 54.9
07:00 AM
FR
Markit Manufacturing PMI Flash SEP 56.0 55.8
07:30 AM
DE
Markit Services PMI Flash SEP 55.6 53.5
07:30 AM
DE
Markit Manufacturing PMI Flash SEP 60.6 59.3
08:00 AM
EA
ECB Draghi Speech
08:00 AM
EA
Markit Services PMI Flash SEP 55.6 54.7
08:00 AM
EA
Markit Manufacturing PMI Flash SEP 58.2 57.4
08:00 AM
ES
Balance of Trade JUL €-2.1B €-1.3B
10:00 AM
GB
CBI Industrial Trends Orders SEP 7 13
10:00 AM
US
Fed Williams Speech
12:30 PM
CA
Retail Sales MoM JUL 0.4% 0.1% ®
12:30 PM
CA
Inflation Rate YoY AUG 1.4% 1.2%
12:30 PM
CA
Inflation Rate MoM AUG 0.1% 0%
12:30 PM
CA
Core Inflation Rate YoY AUG 0.9% 0.9%
01:30 PM
US
Fed George Speech
01:40 PM
ID
Interest Rate Decision 4.25% 4.5%
01:45 PM
US
Markit Manufacturing PMI Flash SEP 53.0 52.8
01:45 PM
US
Markit Services PMI Flash SEP 55.1 56
01:45 PM
US
Markit Composite PMI Flash SEP 54.6 55.3
02:15 PM
BR
Business Confidence SEP 55.7 52.6
05:30 PM
US
Fed Kaplan Speech
GB
Prime Minister May Speech on Brexit
Sunday September 24 2017 Actual Previous Consensus
DE
Federal Election
Monday September 25 2017 Actual Previous Consensus
12:30 AM
JP
Nikkei Manufacturing PMI Flash SEP 52.6 52.6 ®
04:35 AM
JP
BoJ Kuroda Speech
07:00 AM
EA
ECB Constâncio Speech
07:00 AM
CH
Current Account Q2 CHF18.7B CHF12.1B ®
08:00 AM
DE
IFO Current Conditions SEP 123.6 124.7 ®
08:00 AM
DE
IFO Expectations SEP 107.4 107.8 ®
08:00 AM
DE
IFO Business Climate SEP 115.2 115.9
08:30 AM
GB
BoE FPC Statement
11:30 AM
TR
Business Confidence SEP 111.6 110.7
11:30 AM
TR
Capacity Utilization SEP 79.0% 78.8%
12:30 PM
US
Chicago Fed National Activity Index AUG -0.31 0.03 ®
12:30 PM
US
Fed Dudley Speech
01:00 PM
EA
ECB Draghi Speech
02:30 PM
US
Dallas Fed Manufacturing Index SEP 21.3 17
02:45 PM
EA
ECB Cœuré Speech
04:40 PM
US
Fed Evans Speech
09:00 PM
KR
Consumer Confidence SEP 108 109.9 ®
10:30 PM
US
Fed Kashkari Speech
11:50 PM
JP
BoJ Monetary Policy Meeting Minutes
Tuesday September 26 2017 Actual Previous Consensus
06:45 AM
FR
Business Confidence SEP 110 111
08:30 AM
GB
BBA Mortgage Approvals AUG 41.807K 41.644K ®
01:00 PM
MX
Unemployment Rate AUG 3.50% 3.4% ®
01:00 PM
US
S&P/Case-Shiller Home Price YoY JUL 5.8% 5.6% ®
01:00 PM
US
S&P/Case-Shiller Home Price MoM JUL 0.7% 0.7%
01:30 PM
US
Fed Mester Speech
02:00 PM
US
New Home Sales MoM AUG -3.4% -5.5% ®
02:00 PM
US
New Home Sales AUG 560K 0.58M ®
02:00 PM
US
CB Consumer Confidence SEP 119.8 120.4 ®
04:00 PM
FR
Unemployment Benefit Claims AUG 22.3K 34.9K
04:30 PM
US
Fed Bostic Speech
04:45 PM
US
Fed Yellen Speech
08:30 PM
US
API Weekly Crude Oil Stock SEP -0.761M 1.443M
Wednesday September 27 2017 Actual Previous Consensus
06:00 AM
CH
UBS Consumption Indicator AUG 1.53 1.46 ®
06:45 AM
FR
Consumer Confidence SEP 101 103
08:00 AM
IT
Business Confidence SEP 110.4 108.5 ®
08:00 AM
IT
Consumer Confidence SEP 115.5 111.2 ®
12:30 PM
US
Durable Goods Orders Ex Transp MoM AUG 0.2% 0.8% ®
12:30 PM
US
Durable Goods Orders MoM AUG 1.7% -6.8%
01:00 PM
MX
Balance of Trade AUG $-2732M $-1.523B ®
01:15 PM
US
Fed Kashkari Speech
02:00 PM
US
Pending Home Sales YoY AUG -2.6% -1.3%
02:00 PM
US
Pending Home Sales MoM AUG -2.6% -0.8%
02:30 PM
US
EIA Gasoline Stocks Change 22/SEP 1107K -2125K
02:30 PM
US
EIA Crude Oil Stocks Change 22/SEP -1.846M 4.591M
04:00 PM
CA
BoC Gov Poloz Speech
05:30 PM
US
Fed Bullard Speech
06:00 PM
US
Fed Brainard Speech
07:00 PM
US
President Trump tax speech
09:30 PM
US
Fed Rosengren Speech
Thursday September 28 2017 Actual Previous Consensus
04:30 AM
NL
Business Confidence SEP 8.5 5.4
06:00 AM
DE
GfK Consumer Confidence OCT 10.8 10.9
06:35 AM
JP
BoJ Kuroda Speech
07:00 AM
ES
Inflation Rate YoY Prel SEP 1.8% 1.6%
08:15 AM
GB
BoE Gov Carney Speech
09:00 AM
AU
RBA Debelle Speech
09:00 AM
EA
Business Confidence SEP 1.34 1.08 ®
09:00 AM
EA
Industrial Sentiment SEP 6.6 5.0 ®
09:00 AM
EA
Services Sentiment SEP 15.3 15.1 ®
09:00 AM
EA
Economic Sentiment SEP 113.0 111.9
10:45 AM
ES
Business Confidence SEP 2.1 -0.4
12:00 PM
DE
Inflation Rate YoY Prel SEP 1.8% 1.8%
12:30 PM
US
GDP Growth Rate QoQ Final Q2 3.1% 1.2%
12:30 PM
US
Core PCE Prices QoQ Final Q2 0.90% 1.8%
12:30 PM
US
PCE Prices QoQ Final Q2 0.3% 2.2%
12:30 PM
US
GDP Price Index QoQ Final Q2 1.0% 2% ®
12:30 PM
US
Corporate Profits QoQ Final Q2 0.1% -2.6%
12:30 PM
US
Initial Jobless Claims SEP/23 272K 260K ®
12:30 PM
US
Wholesale Inventories MoM Adv AUG 1% 1% ®
01:45 PM
US
Fed George Speech
02:00 PM
US
Fed Fischer Speech
02:30 PM
US
EIA Natural Gas Stocks Change SEP/22 58Bcf 97Bcf
03:00 PM
US
Kansas Fed Manufacturing Index SEP 22 22
06:00 PM
MX
Interest Rate Decision 7.00% 7.0%
09:00 PM
KR
Business Confidence SEP 83 78
11:05 PM
GB
Gfk Consumer Confidence SEP -9 -10
11:30 PM
JP
Core Inflation Rate YoY AUG 0.7% 0.5%
11:30 PM
JP
Inflation Rate YoY AUG 0.7% 0.4%
11:30 PM
JP
Unemployment Rate AUG 2.8% 2.8%
11:50 PM
JP
Industrial Production MoM Prel AUG 2.1% -0.8%
11:50 PM
JP
Industrial Production YoY Prel AUG 5.4% 4.7%
11:50 PM
JP
Retail Sales YoY AUG 1.7% 1.8%
JP
PM Shinzo Abe to Dissolve Parliament
Friday September 29 2017 Actual Previous Consensus
01:30 AM
AU
Private Sector Credit MoM AUG 0.5% 0.5%
01:30 AM
AU
Private Sector Credit YoY AUG 5.5% 5.3%
05:00 AM
JP
Housing Starts YoY AUG -2.0% -2.3%
06:00 AM
DE
Retail Sales MoM AUG -0.4% -1.2% ®
06:00 AM
DE
Retail Sales YoY AUG 2.8% 2.8% ®
06:00 AM
GB
Nationwide Housing Prices YoY SEP 2.0% 2.1%
06:00 AM
GB
Nationwide Housing Prices MoM SEP 0.2% -0.1%
06:45 AM
FR
Inflation Rate YoY Prel SEP 1% 0.9%
07:00 AM
CH
KOF Leading Indicators SEP 105.8 104.2 ®
07:00 AM
TR
Balance of Trade AUG $-5.87B $-8.84B ®
07:55 AM
DE
Unemployment Rate Harmonised AUG 3.6% 3.7%
07:55 AM
DE
Unemployment Change SEP -23K -6K ®
08:30 AM
GB
Current Account Q2 £-23.2B £-22.256B ®
08:30 AM
GB
GDP Growth Rate QoQ Final Q2 0.3% 0.3% ®
08:30 AM
GB
GDP Growth Rate YoY Final Q2 1.5% 1.8% ®
08:30 AM
GB
Business Investment QoQ Final Q2 0.5% 0.8% ®
08:30 AM
GB
Business Investment YoY Final Q2 2.5% 2.9% ®
08:30 AM
GB
Mortgage Approvals AUG 66.58K 68.452K ®
08:30 AM
GB
Mortgage Lending AUG £4.04B £3.584B ®
08:30 AM
GB
BoE Consumer Credit AUG £1583M £1166M ®
09:00 AM
EA
Inflation Rate YoY Flash SEP 1.5% 1.5%
09:00 AM
EA
Core Inflation Rate YoY Flash SEP 1.1% 1.2%
09:00 AM
IT
Inflation Rate MoM Prel SEP -0.3% 0.3%
09:00 AM
IT
Inflation Rate YoY Prel SEP 1.1% 1.2%
12:00 PM
BR
Unemployment Rate AUG 12.6% 12.8%
12:00 PM
PL
Inflation Rate YoY Flash SEP 2.2% 1.8%
12:00 PM
ZA
Balance of Trade AUG ZAR5.94B ZAR9.33B ®
12:30 PM
CA
GDP MoM JUL 0.0% 0.3%
12:30 PM
GB
BoE Broadbent Speech
12:30 PM
US
PCE Price Index MoM AUG 0.2% 0.1%
12:30 PM
US
PCE Price Index YoY AUG 1.4% 1.4%
12:30 PM
US
Personal Spending MoM AUG 0.1% 0.3%
12:30 PM
US
Personal Income MoM AUG 0.2% 0.3% ®
01:45 PM
US
Chicago PMI SEP 65.2 58.9
02:00 PM
US
Michigan Consumer Sentiment Final SEP 95.1 96.8
02:15 PM
EA
ECB Draghi Speech
02:45 PM
GB
BoE Gov Carney Speech
03:00 PM
US
Fed Harker Speech
07:00 PM
BR
Consumer Confidence SEP 98.5 101.6
Saturday September 30 2017 Actual Previous Consensus
01:00 AM
CN
NBS Manufacturing PMI SEP 52.4 51.7
01:00 AM
CN
Non Manufacturing PMI SEP 55.4 53.4
01:45 AM
CN
Caixin Manufacturing PMI SEP 51.0 51.6
Sunday October 01 2017 Actual Previous Consensus
01:10 AM
KR
Balance of Trade SEP $13.8B $6.6B ®
10:30 PM
AU
AIG Manufacturing Index SEP 54.2 59.8
11:00 PM
KR
Inflation Rate YoY SEP 2.1% 2.6%
11:50 PM
JP
Tankan Small Manufacturers Index Q3 10 7
11:50 PM
JP
Tankan Large All Industry Capex Q3 7.7 8
11:50 PM
JP
Tankan Large Manufacturers Index Q3 22 17
Monday October 02 2017 Actual Previous Consensus