Week Ahead

In the US, the most important releases will be the final reading of third quarter GDP growth, personal spending, PCE price index, housing data and durable goods orders. Investors will also be waiting for: UK final estimate of GDP growth, current account and CBI factory orders; Japan interest rate decision and trade balance; Eurozone consumer sentiment and inflation; Germany business and consumer morale.

In the US, investors will be waiting for the final reading of third quarter GDP growth, personal spending and income, PCE price index, durable goods orders, new and existing home sales, building permits and housing starts. Other important data include: current account; NAHB Housing Market Index; Chicago Fed National Activity Index; Philadelphia Fed Manufacturing Index; Kansas Fed Manufacturing Index; Fannie Mae and Freddie Mac house price index; and final figures for Michigan consumer sentiment. 

In the United Kingdom, markets will focus on the publication of third quarter GDP data, alongside current account, CBI factory orders and public sector net borrowing.

Elsewhere in Europe, important releases include consumer confidence for the Eurozone, Germany, Italy and the Netherlands; and business morale for Germany, France and Italy. The Eurozone final reading of November's inflation will also be in the spotlight.

In Japan, the Bank of Japan will be deciding on monetary policy, but no changes are expected. The country's trade balance will also be watched. In Australia, the RBA will publish minutes from its last monetary policy meeting.

Other key data include Taiwan export orders; China house price index; New Zealand third quarter GDP growth and current account; Canada inflation, retail trade and monthly GDP; Sweden interest rate decision; Russia unemployment, wage growth and retail sales; and Argentina GDP growth rate.



Joana Ferreira | joana.ferreira@tradingeconomics.com
12/15/2017 5:24:14 PM



 


Friday December 15 2017 Actual Previous Consensus
04:00 AM
ID
Balance of Trade NOV $0.13B $1B ®
07:00 AM
TR
Unemployment Rate SEP 10.6% 10.6%
10:00 AM
EA
Balance of Trade OCT €18.9B €26.2B ®
10:30 AM
RU
Interest Rate Decision 7.75% 8.25%
11:00 AM
IE
GDP Growth Rate YoY Q3 10.5% 6.3% ®
11:00 AM
IE
GDP Growth Rate QoQ Q3 4.2% 2.7% ®
12:00 PM
IL
Inflation Rate MoM NOV -0.3% 0.3%
12:00 PM
GB
BoE Quarterly Bulletin
12:25 PM
IN
Balance of Trade NOV $-13.83B $-14.02B
01:30 PM
US
NY Empire State Manufacturing Index DEC 18 19.40
02:15 PM
US
Industrial Production YoY NOV 3.4% 2.9%
02:15 PM
US
Industrial Production MoM NOV 0.2% 1.2% ®
09:00 PM
US
Net Long-Term Tic Flows OCT $23.2B $80.9B
09:00 PM
US
Overall Net Capital Flows OCT $151.2B $-42.6B ®
09:00 PM
US
Foreign Bond Investment OCT $-22.1B $12.7B ®
EA
ECB Draghi Speech
Saturday December 16 2017 Actual Previous Consensus
03:15 AM
EA
ECB Cœuré Speech
Sunday December 17 2017 Actual Previous Consensus
11:50 PM
JP
Exports YoY NOV 16.2% 14%
11:50 PM
JP
Balance of Trade NOV ¥113B ¥285B
Monday December 18 2017 Actual Previous Consensus
01:30 AM
CN
House Price Index YoY NOV 5.1% 5.4%
04:00 AM
MY
Unemployment Rate OCT 3.4% 3.4%
08:30 AM
HK
Unemployment Rate NOV 3% 3%
08:45 AM
NG
Inflation Rate YoY NOV 15.90% 15.91%
09:00 AM
IT
Balance of Trade OCT €4.953B €3.991B ®
10:00 AM
EA
Inflation Rate MoM NOV 0.1% 0.1%
10:00 AM
EA
Core Inflation Rate YoY Final NOV 0.9% 0.9%
10:00 AM
EA
Inflation Rate YoY Final NOV 1.5% 1.4%
11:00 AM
DE
Bundesbank Monthly Report
11:00 AM
GB
CBI Industrial Trends Orders DEC 17 17
01:00 PM
PL
Employment Growth YoY NOV 4.5% 4.4%
03:00 PM
US
NAHB Housing Market Index DEC 74 69 ®
04:50 PM
BR
Business Confidence DEC 58.3 56.5
Tuesday December 19 2017 Actual Previous Consensus
12:30 AM
AU
RBA Meeting Minutes
06:45 AM
CH
SECO Economic Forecasts
09:00 AM
DE
IFO Expectations DEC 109.5 111
09:00 AM
DE
IFO Current Conditions DEC 125.4 124.5 ®
09:00 AM
DE
IFO Business Climate DEC 117.2 117.6 ®
10:00 AM
EA
Construction Output YoY OCT 2.0% 3.5% ®
01:00 PM
HU
Interest Rate Decision 0.9% 0.9%
01:00 PM
RU
Unemployment Rate NOV 5.1% 5.1%
01:30 PM
US
Housing Starts NOV 1297K 1256K ®
01:30 PM
US
Housing Starts MoM NOV 3.3% 8.4% ®
01:30 PM
US
Building Permits NOV 1298K 1316K
01:30 PM
US
Building Permits MoM NOV -1.4% 7.4%
01:30 PM
US
Current Account Q3 $-100.6B $-124.4B ®
06:10 PM
US
Fed Kashkari Speech
09:30 PM
US
API Crude Oil Stock Change DEC/15 -5.222M -7.382M
Wednesday December 20 2017 Actual Previous Consensus
04:00 AM
MY
Inflation Rate YoY NOV 3.4% 3.7%
07:00 AM
DE
PPI MoM NOV 0.1% 0.3%
07:05 AM
TH
Interest Rate Decision 1.5% 1.5%
08:30 AM
SE
Riksbank Rate Decision -0.5% -0.5%
09:30 AM
SK
Unemployment Rate NOV 6% 6.1%
11:35 AM
SI
Unemployment Rate OCT 8.8% 8.7%
02:00 PM
CH
SNB Quarterly Bulletin
03:00 PM
US
Existing Home Sales NOV 5.81M 5.5M ®
03:00 PM
US
Existing Home Sales MoM NOV 5.6% 2.4% ®
03:30 PM
US
EIA Gasoline Stocks Change 15/DEC 1.237M 5.664M
03:30 PM
US
EIA Crude Oil Stocks Change 15/DEC -6.495M -5.117M
07:30 PM
AR
GDP Growth Rate YoY Q3 4.2% 2.9% ®
07:30 PM
AR
GDP Growth Rate QoQ Q3 0.9% 0.8% ®
Thursday December 21 2017 Actual Previous Consensus
12:01 AM
GB
GfK Consumer Confidence DEC -13 -12
03:00 AM
JP
BoJ Interest Rate Decision -0.1% -0.1%
03:30 AM
TH
Balance of Trade NOV $1.76B $0.210B
05:30 AM
NL
Consumer Confidence DEC 25 23
05:30 AM
NL
Unemployment Rate NOV 4.4% 4.5%
07:00 AM
CH
Balance of Trade NOV CHF2.633B CHF2.333B ®
07:00 AM
TR
Consumer Confidence DEC 65.1 65.2
07:45 AM
FR
Business Confidence DEC 112 113 ®
09:30 AM
TW
Interest Rate Decision 1.375% 1.375%
11:00 AM
LU
GDP Growth Rate YoY Q3 3.2% 1.9% ®
11:00 AM
LU
GDP Growth Rate QoQ Q3 1.7% 0.7% ®
11:00 AM
TR
Monetary Policy Meeting Minutes
11:15 AM
IL
Unemployment Rate NOV 4.3% 4.2%
12:00 PM
CZ
CNB Interest Rate Decision 0.5% 0.5%
01:30 PM
CA
Retail Sales MoM OCT 1.5% 0.2% ®
01:30 PM
CA
Inflation Rate YoY NOV 2.1% 1.4%
01:30 PM
CA
Core Inflation Rate YoY NOV 1.3% 0.9%
01:30 PM
CA
Inflation Rate MoM NOV 0.3% 0.1%
01:30 PM
US
Chicago Fed National Activity Index NOV 0.15 0.76 ®
01:30 PM
US
PCE Prices QoQ Final Q3 1.5% 0.3%
01:30 PM
US
Core PCE Prices QoQ Final Q3 1.3% 0.9%
01:30 PM
US
Corporate Profits QoQ Final Q3 5.7% 0.1%
01:30 PM
US
GDP Price Index QoQ Final Q3 2.1% 1.0%
01:30 PM
US
GDP Growth Rate QoQ Final Q3 3.2% 3.1%
01:30 PM
US
Initial Jobless Claims 16/DEC 245K 225K
01:30 PM
US
Philadelphia Fed Manufacturing Index DEC 26.2 22.7
03:00 PM
EA
Consumer Confidence Flash DEC 0.5 0.0 ®
03:30 PM
US
EIA Natural Gas Stocks Change DEC/15 -182Bcf -69Bcf
ES
Catalonia Parliamentary Election
Friday December 22 2017 Actual Previous Consensus
05:30 AM
NL
GDP Growth Rate YoY Final Q3 3% 3.3%
05:30 AM
NL
GDP Growth Rate QoQ Final Q3 0.4% 1.5%
07:00 AM
DK
GDP Growth Rate YoY Final Q3 1.5% 2.5%
07:00 AM
DK
GDP Growth Rate QoQ Final Q3 -0.5% 0.6%
07:00 AM
FI
Unemployment Rate NOV 7.1% 7.3%
07:00 AM
DE
GfK Consumer Confidence JAN 10.8 10.7
07:45 AM
FR
GDP Growth Rate QoQ Final Q3 0.6% 0.6%
08:00 AM
CH
Current Account Q3 CHF13B CHF18.7B
08:00 AM
CH
KOF Leading Indicators DEC 111.3 110.4 ®
08:00 AM
TW
Unemployment Rate NOV 3.69% 3.69%
09:00 AM
IT
Business Confidence DEC 110.5 110.7 ®
09:00 AM
IT
Consumer Confidence DEC 116.6 114.4 ®
09:00 AM
PL
Unemployment Rate NOV 6.5% 6.6%
09:00 AM
ES
Balance of Trade OCT €-2.51B €-2.1B
09:30 AM
GB
Current Account Q3 £-22.8B £-25.8B ®
09:30 AM
GB
GDP Growth Rate YoY Final Q3 1.7% 1.9% ®
09:30 AM
GB
GDP Growth Rate QoQ Final Q3 0.4% 0.3%
09:30 AM
GB
Business Investment QoQ Final Q3 0.5% 0.5%
09:30 AM
GB
Business Investment YoY Final Q3 1.7% 2.5%
10:00 AM
HR
Unemployment Rate NOV 12.1% 11.6%
10:00 AM
MT
Unemployment Rate Q3 4.0% 4.1%
11:00 AM
LU
Unemployment Rate NOV 5.8% 5.8%
01:30 PM
CA
GDP MoM OCT 0% 0.2%
01:30 PM
US
Durable Goods Orders Ex Transp MoM NOV -0.1% 1.3% ®
01:30 PM
US
PCE Price Index YoY NOV 1.8% 1.6%
01:30 PM
US
PCE Price Index MoM NOV 0.2% 0.1%
01:30 PM
US
Durable Goods Orders MoM NOV 1.3% -0.4% ®
01:30 PM
US
Personal Income MoM NOV 0.3% 0.4%
01:30 PM
US
Personal Spending MoM NOV 0.6% 0.2% ®
02:00 PM
MX
Unemployment Rate NOV 3.4% 3.5%
03:00 PM
US
New Home Sales NOV 0.733M 0.624M ®
03:00 PM
US
New Home Sales MoM NOV 17.5% -1.7% ®
03:00 PM
US
Michigan Consumer Sentiment Final DEC 95.9 98.5
04:00 PM
US
Kansas Fed Manufacturing Index DEC 21 15
Monday December 25 2017 Actual Previous Consensus
11:30 PM