Week Ahead - Feb 24th

Next week, investors will focus on speeches by several Federal Reserve officials in the United States, alongside key economic data, including personal income and spending, PCE price indices, durable goods orders, the second estimate of Q4 GDP growth, and CB consumer sentiment. In the housing sector, attention will be on the S&P/Case-Shiller Home Price YoY data, as well as new and pending home sales. Globally, inflation figures will be released for France, Italy, Germany, Spain, South Africa, and Australia. GDP growth rates are expected from Switzerland, Turkey, Brazil, India, and Canada. Meanwhile, Germany will publish its Ifo Business Climate Index, GfK consumer confidence, and retail sales figures.
Anna | anna@tradingeconomics.com
2/21/2025 4:29:22 PM
Americas
In the US, PCE report and comments from Fed officials will take center stage. PCE prices will offer crucial insights into evolving price pressures, following higher-than-expected CPI and PPI figures. Personal spending growth is expected to have slowed to 0.2%, while personal income likely rose 0.4%, matching December’s increase. Meanwhile, the 2nd estimate of Q1 2025 GDP growth is projected to confirm the US economy expanded at an annualized 2.3%, in line with the initial estimate. Additionally, durable goods orders are anticipated to rebound by 1.3% after a 2.2% decline in December. Other key releases include the CB Consumer Confidence, Chicago Fed National Activity Index, Dallas Fed Manufacturing and Services Index, Richmond Fed Manufacturing Index, Kansas Fed Manufacturing Index, goods trade balance, and advance estimates for wholesale inventories. Housing market data will also be in focus, with house prices from FHFA and Case-Shiller, as well as pending and new home sales reportsOn the corporate front, earnings season continues with Nvidia, Home Depot, Salesforce, Lowe's Companies, and TJX Companies set to report. Elsewhere in the Americas, key economic data includes Q1 GDP growth figures for Canada and Brazil, Canada’s current account, mid-month inflation readings for Mexico and Brazil, Mexico’s trade balance, Brazil’s unemployment rate, and Chile’s copper production.

Europe
Germany’s general election on Sunday will be closely monitored. Polls indicate the conservative CDU/CSU bloc, led by Friedrich Merz, is on track to win but may need coalition partners to form a government amid ongoing economic stagnation. Elsewhere in Europe, investors will focus on the ECB’s January policy meeting minutes for insights into the central bank’s future moves. Inflation data will be a key highlight, with preliminary February figures due from Germany, France, Italy, and Spain. Germany’s headline inflation is expected to hold at 2.3%, while the harmonized rate may ease to 2.6%. Meanwhile, the Eurozone will release final inflation estimates for January. Germany’s economic sentiment is set to improve, with the Ifo Business Climate Index expected to rise for a second consecutive month and the GfK Consumer Climate Indicator reaching a four-month high. Additionally, key GDP updates will come from Germany, France, Switzerland, and Turkey, while labor market data will be released for Germany and France. Germany’s unemployment rate is forecast to remain at 6.2%, its highest since October 2020. Other key reports include the Eurozone’s business survey, new car registrations, and wage growth, along with Germany’s retail sales, the UK’s CBI distributive trades and Nationwide Housing Prices, Switzerland’s retail sales and KOF leading indicators, and Turkey’s unemployment, business confidence, and foreign trade data.

Asia and Australia
In Japan, a busy week of economic releases will be headlined by retail sales, industrial production, and housing starts for January. Additionally, the spotlight will be shared by Tokyo inflation prints for February after hawkish signals by BoJ members kept investors attentive on the timing of the central bank’s next rate hike. In India, the focus will be on the second estimate for the FY2025 GDP, set to confirm the economic slowdown that the country faced in the latter part of the year. Meanwhile, the Bank of Korea is expected to resume its rate cutting path after its martial law crisis triggered a selloff in the won and drove the bank to unexpectedly hold rates last meeting. Monetary policy will also be the focus in Thailand and Israel. In Australia, the focus will be on capex and credit aggregates amid the surges in government bonds, while the ANZ will release its key New Zealand business confidence index.





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Friday December 12 2025 Actual Previous Consensus Forecast
07:00 AM
GB
GDP MoM OCT -0.1% -0.1% 0.1% 0.0%
07:00 AM
GB
GDP 3-Month Avg OCT -0.1% 0.1% 0% 0.0%
07:00 AM
GB
Goods Trade Balance OCT £-22.54B £-18.88B £ -19.3B £ -19.0B
07:00 AM
GB
Goods Trade Balance Non-EU OCT £-10.26B £-6.82B £-6.6B
07:00 AM
GB
Industrial Production MoM OCT 1.1% -2% 0.7% 0.8%
07:00 AM
GB
Manufacturing Production MoM OCT 0.5% -1.7% 1% 0.5%
09:00 AM
CN
New Yuan Loans NOV CNY390B CNY220B CNY450.0B
10:30 AM
IN
Inflation Rate YoY NOV 0.71% 0.25% 0.7% 0.6%
01:00 PM
US
Fed Paulson Speech
01:30 PM
US
Fed Hammack Speech
03:35 PM
US
Fed Goolsbee Speech
Sunday December 14 2025 Actual Previous Consensus Forecast
11:50 PM
JP
Tankan Large Manufacturers Index Q4 15 14 15 15
Monday December 15 2025 Actual Previous Consensus Forecast
01:30 AM
CN
House Price Index YoY NOV -2.4% -2.2% -1.9%
02:00 AM
CN
Industrial Production YoY NOV 4.8% 4.9% 5% 5.4%
02:00 AM
CN
Retail Sales YoY NOV 1.3% 2.9% 2.9% 3.3%
02:00 AM
CN
Fixed Asset Investment (YTD) YoY NOV -2.6% -1.7% -2.3% -2.0%
07:00 AM
DE
Wholesale Prices MoM NOV 0.3% 0.3% 0.2% 0.2%
07:00 AM
DE
Wholesale Prices YoY NOV 1.5% 1.1% 1.3%
07:50 AM
IN
Balance of Trade NOV $-24.53B $-41.68B $-30.0B
10:00 AM
EA
Industrial Production MoM OCT 0.8% 0.2% 0.8% 0.3%
01:15 PM
CA
Housing Starts NOV 254.1K 232.2K ® 250K 231.0K
01:30 PM
CA
Inflation Rate YoY NOV 2.2% 2.2% 2.3% 2.3%
01:30 PM
CA
Core Inflation Rate YoY NOV 2.9% 2.9% 2.9%
01:30 PM
CA
Inflation Rate MoM NOV 0.1% 0.2% 0.1% 0.1%
01:30 PM
US
NY Empire State Manufacturing Index DEC -3.90 18.70 10 11
02:30 PM
US
Fed Miran Speech
03:00 PM
US
NAHB Housing Market Index DEC 39 38 38 37
03:30 PM
US
Fed Williams Speech
10:00 PM
AU
S&P Global Manufacturing PMI Flash DEC 52.2 51.6 51.8
10:00 PM
AU
S&P Global Services PMI Flash DEC 51.0 52.8 53
11:30 PM
AU
Westpac Consumer Confidence Change DEC -9% 12.8% 0.2%
11:30 PM
AU
Westpac Consumer Confidence Index DEC 94.5 103.8 104
BR
BCB Focus Market Readout
Tuesday December 16 2025 Actual Previous Consensus Forecast
12:30 AM
JP
S&P Global Manufacturing PMI Flash DEC 49.7 48.7 48.8 49.5
12:30 AM
JP
S&P Global Services PMI Flash DEC 52.5 53.2 51.6
05:00 AM
IN
HSBC Composite PMI Flash DEC 58.90 59.70 60.2
05:00 AM
IN
HSBC Manufacturing PMI Flash DEC 55.7 56.6 59.6
05:00 AM
IN
HSBC Services PMI Flash DEC 59.1 59.8 59.9
07:00 AM
GB
Unemployment Rate OCT 5.1% 5% 5.1% 5.1%
07:00 AM
GB
Average Earnings incl. Bonus (3Mo/Yr) OCT 4.7% 4.9% ® 4.4% 4.5%
07:00 AM
GB
Employment Change OCT -16K -22K -60.0K
08:15 AM
FR
HCOB Composite PMI Flash DEC 50.1 50.4 50.3 50.6
08:15 AM
FR
HCOB Manufacturing PMI Flash DEC 50.6 47.8 48 48.9
08:15 AM
FR
HCOB Services PMI Flash DEC 50.2 51.4 51.2 51.5
08:30 AM
DE
HCOB Manufacturing PMI Flash DEC 47.7 48.2 48.5 48.9
08:30 AM
DE
HCOB Composite PMI Flash DEC 51.5 52.4 52.4 52.9
08:30 AM
DE
HCOB Services PMI Flash DEC 52.6 53.1 53 52.5
09:00 AM
EA
HCOB Composite PMI Flash DEC 51.9 52.8 52.7 53.6
09:00 AM
EA
HCOB Manufacturing PMI Flash DEC 49.2 49.6 49.9 50.1
09:00 AM
EA
HCOB Services PMI Flash DEC 52.6 53.6 53.3 53.8
09:30 AM
GB
S&P Global Manufacturing PMI Flash DEC 51.2 50.2 50.4 51.2
09:30 AM
GB
S&P Global Services PMI Flash DEC 52.1 51.3 51.6 52
10:00 AM
EA
Balance of Trade OCT €18.4B €18.4B ® €14.1B
10:00 AM
EA
ZEW Economic Sentiment Index DEC 33.7 25 26.3 25.5
10:00 AM
DE
ZEW Economic Sentiment Index DEC 45.8 38.5 38.5 39
10:00 AM
IT
Balance of Trade OCT €4.156B €2.968B ® €3.22B €3.2B
11:00 AM
BR
BCB Copom Meeting Minutes
01:15 PM
US
ADP Employment Change Weekly 16.25K 2.75K ®
01:30 PM
US
Non Farm Payrolls OCT -105K 108K ® 55.0K
01:30 PM
US
Non Farm Payrolls NOV 64K -105K 50K 25.0K
01:30 PM
US
Retail Sales MoM OCT 0% 0.1% ® 0.1% 0.2%
01:30 PM
US
Unemployment Rate NOV 4.6% 4.4% 4.4% 4.6%
01:30 PM
US
Average Hourly Earnings MoM OCT 0.4% 0.2% 0.3%
01:30 PM
US
Average Hourly Earnings MoM NOV 0.1% 0.4% 0.3% 0.2%
01:30 PM
US
Average Hourly Earnings YoY OCT 3.7% 3.7% ® 3.8%
01:30 PM
US
Average Hourly Earnings YoY NOV 3.5% 3.7% 3.7%
01:30 PM
US
Participation Rate NOV 62.5% 62.4% 62.5%
01:30 PM
US
Retail Sales Control Group MoM OCT 0.8% -0.1% 0.4% 0.3%
01:30 PM
US
Retail Sales Ex Autos MoM OCT 0.4% 0.1% ® 0.3% 0.2%
02:45 PM
US
S&P Global Composite PMI Flash DEC 53.0 54.2 53.2
02:45 PM
US
S&P Global Manufacturing PMI Flash DEC 51.8 52.2 52 52
02:45 PM
US
S&P Global Services PMI Flash DEC 52.9 54.1 54 53
03:00 PM
US
Business Inventories MoM SEP 0.2% 0% 0.2% 0.3%
06:00 PM
CA
BoC Macklem Speech
09:30 PM
US
API Crude Oil Stock Change DEC/12 -9.3M -4.8M -2.2M
11:50 PM
JP
Balance of Trade NOV ¥322.2B ¥-226.1B ® ¥71.2B ¥65.0B
11:50 PM
JP
Exports YoY NOV 6.1% 3.6% 4.8%
11:50 PM
JP
Machinery Orders MoM OCT 7% 4.2% -2.3% -2.6%
11:50 PM
JP
Machinery Orders YoY OCT 12.5% 11.6% 3.6% 3.2%
Wednesday December 17 2025 Actual Previous Consensus Forecast
07:00 AM
GB
Inflation Rate YoY NOV 3.2% 3.6% 3.5% 3.4%
07:00 AM
GB
Core Inflation Rate YoY NOV 3.2% 3.4% 3.4% 3.3%
07:00 AM
GB
Inflation Rate MoM NOV -0.2% 0.4% 0% -0.1%
07:30 AM
ID
Interest Rate Decision 4.75% 4.75% 4.75% 4.75%
08:00 AM
ZA
Inflation Rate MoM NOV -0.1% 0.1% 0.1%
08:00 AM
ZA
Inflation Rate YoY NOV 3.5% 3.6% 3.6% 3.7%
09:00 AM
DE
Ifo Business Climate DEC 87.6 88.0 ® 88.2 88.5
11:00 AM
GB
CBI Industrial Trends Orders DEC -32 -37 -35 -34
12:00 PM
US
MBA 30-Year Mortgage Rate DEC/12 6.38% 6.33%
01:15 PM
US
Fed Waller Speech
02:05 PM
US
Fed Williams Speech
03:30 PM
US
EIA Crude Oil Stocks Change DEC/12 -1.274M -1.812M -1.1M
03:30 PM
US
EIA Gasoline Stocks Change DEC/12 4.808M 6.397M 2.1M
05:30 PM
US
Fed Bostic Speech
Thursday December 18 2025 Actual Previous Consensus Forecast
07:45 AM
FR
Business Confidence DEC 102 98 98 97
12:00 PM
GB
BoE Interest Rate Decision 3.75% 4% 3.75% 3.75%
12:00 PM
GB
BoE MPC Vote Cut 5/9 4/9 5/9
12:00 PM
GB
BoE MPC Vote Hike 0/9 0/9 0/9
12:00 PM
GB
BoE MPC Vote Unchanged 4/9 5/9 4/9
12:00 PM
GB
MPC Meeting Minutes
01:15 PM
EA
Deposit Facility Rate 2% 2% 2% 2%
01:15 PM
EA
ECB Interest Rate Decision 2.15% 2.15% 2.15% 2.15%
01:30 PM
US
Core Inflation Rate MoM NOV 0.3% 0.2%
01:30 PM
US
Core Inflation Rate YoY NOV 2.6% 3% 3.0%
01:30 PM
US
Inflation Rate YoY NOV 2.7% 3.1% 3.0%
01:30 PM
US
CPI NOV 324.12 325.13 324.9
01:30 PM
US
CPI s.a NOV 325.031 325.9
01:30 PM
US
Initial Jobless Claims DEC/13 224K 237K ® 225K 229.0K
01:30 PM
US
Philadelphia Fed Manufacturing Index DEC -10.2 -1.7 3 6
01:45 PM
EA
ECB Press Conference
02:45 PM
EA
ECB Staff Macroeconomic Projections
07:00 PM
MX
Interest Rate Decision 7% 7.25% 7% 7%
09:00 PM
US
Net Long-term TIC Flows OCT $17.5B $173.2B ® $122.7B
11:30 PM
JP
Inflation Rate YoY NOV 2.9% 3% 2.9%
11:30 PM
JP
Core Inflation Rate YoY NOV 3% 3% 3% 3.0%
US
Inflation Rate MoM NOV 0.3% 0.3%
Friday December 19 2025 Actual Previous Consensus Forecast
12:01 AM
GB
GfK Consumer Confidence DEC -17 -19 -18 -18
02:30 AM
JP
BOJ Gov Ueda Speech
03:30 AM
JP
BoJ Interest Rate Decision 0.75% 0.5% 0.75% 0.75%
07:00 AM
DE
GfK Consumer Confidence JAN -26.9 -23.4 ® -23.2 -23
07:00 AM
DE
PPI YoY NOV -2.3% -1.8% -2.2% -2.0%
07:00 AM
TR
Consumer Confidence DEC 83.5 85 83
07:00 AM
GB
Retail Sales MoM NOV -0.1% -0.9% ® 0.4% 0.4%
07:00 AM
GB
Retail Sales YoY NOV 0.6% 0.6% ® 0.9% 1.4%
09:00 AM
IT
Business Confidence DEC 88.4 89.5 ® 89.3 89.4
09:00 AM
IT
Consumer Confidence DEC 96.6 95.0 96 94
09:30 AM
CN
FDI (YTD) YoY NOV -7.5% -10.3% -8.0%
11:00 AM
GB
CBI Distributive Trades DEC -44 -32 -30 -26
11:30 AM
IN
Monetary Policy Meeting Minutes
01:30 PM
CA
New Housing Price Index MoM NOV 0.0% -0.4% 0% -0.3%
01:30 PM
CA
Retail Sales Ex Autos MoM OCT -0.6% -0.1% ® 0.2% 0.1%
01:30 PM
CA
Retail Sales MoM Final OCT -0.2% -0.9% ® 0% 0.0%
01:30 PM
CA
Retail Sales MoM Prel NOV 1.2% -0.2% 0.3%
03:00 PM
EA
Consumer Confidence Flash DEC -14.6 -14.2 -14 -14
03:00 PM
US
Existing Home Sales NOV 4.13M 4.11M ® 4.2M 3.9M
03:00 PM
US
Existing Home Sales MoM NOV 0.5% 1.5% ® -4.8%
03:00 PM
US
Michigan Consumer Sentiment Final DEC 52.9 51.0 53.4 53.3
Saturday December 20 2025 Actual Previous Consensus Forecast
02:00 AM
US
US President Trump Speech
Monday December 22 2025 Actual Previous Consensus Forecast
01:15 AM
CN
Loan Prime Rate 1Y 3% 3% 3.0% 3.0%
01:15 AM
CN
Loan Prime Rate 5Y DEC 3.5% 3.5% 3.5% 3.5%
07:00 AM
GB
Current Account Q3 £-12.1B £-21.2B ® £-21.3B £ -18.8B
09:00 AM
ES
Balance of Trade OCT €-4.69B €-6B €-6.4B
01:30 PM
US
Chicago Fed National Activity Index SEP -0.21 -0.31 ® -0.4
BR
BCB Focus Market Readout
Tuesday December 23 2025 Actual Previous Consensus Forecast
12:30 AM
AU
RBA Meeting Minutes
05:00 AM
EU
New Car Registrations YoY NOV 2.1% 5.8% 1.9%
12:00 PM
MX
Balance of Trade NOV 0.663B 0.606B ® $0.5B $0.4B
01:15 PM
US
ADP Employment Change Weekly 11.5K 17.5K ®
01:30 PM
CA
GDP MoM OCT -0.3% 0.2% -0.3% -0.4%
01:30 PM
CA
GDP MoM Prel NOV 0.1% -0.3% -0.2%
01:30 PM
US
Durable Goods Orders MoM OCT -2.2% 0.7% ® -1.5% -0.9%
01:30 PM
US
GDP Growth Rate QoQ Q3 4.3% 3.8% 3.3% 3.2%
01:30 PM
US
Corporate Profits QoQ Prel Q3 4.4% 0.2% 1.0%
01:30 PM
US
Durable Goods Orders Ex Transp MoM OCT 0.2% 0.7% ® 0.3% 0.1%
01:30 PM
US
GDP Price Index QoQ Q3 3.7% 2.1% 2.7% 2.5%
02:15 PM
US
Industrial Production MoM NOV 0.2% -0.1% 0.0%
02:15 PM
US
Industrial Production MoM OCT -0.1% 0.1% 0.1% -0.1%
03:00 PM
US
CB Consumer Confidence DEC 89.1 92.9 ® 91 89
06:30 PM
CA
BoC Summary of Deliberations
09:00 PM
KR
Consumer Confidence DEC 109.9 112.4 104
09:30 PM
US
API Crude Oil Stock Change DEC/19 2.4M -9.3M
11:50 PM
JP
BoJ Monetary Policy Meeting Minutes
Wednesday December 24 2025 Actual Previous Consensus Forecast
12:00 PM
US
MBA 30-Year Mortgage Rate DEC/19 6.31% 6.38%
01:30 PM
US
Initial Jobless Claims DEC/20 214K 224K 223K 226.0K
Thursday December 25 2025 Actual Previous Consensus Forecast
05:00 AM
JP
Housing Starts YoY NOV -8.5% 3.2% 0.4% 0.5%
07:00 AM
TR
Business Confidence DEC 100.8 100.8 101
11:30 PM
JP
Unemployment Rate NOV 2.6% 2.6% 2.6% 2.6%
11:50 PM
JP
Industrial Production MoM Prel NOV -2.6% 1.5% -2% -1.8%
11:50 PM
JP
Retail Sales YoY NOV 1% 1.7% 0.9% 0.9%
Friday December 26 2025 Actual Previous Consensus Forecast
04:00 PM
RU
Unemployment Rate NOV 2.1% 2.2% 2.2% 2.2%
Sunday December 28 2025 Actual Previous Consensus Forecast
11:50 PM
JP
BoJ Summary of Opinions
Monday December 29 2025 Actual Previous Consensus Forecast
06:00 AM
RU
S&P Global Manufacturing PMI DEC 48.1 48.3 49
10:30 AM
IN
Industrial Production YoY NOV 6.7% 0.5% ® 2.5% 4.1%
10:30 AM
IN
Manufacturing Production YoY NOV 8% 2% ® 4.6%
11:00 AM
FR
Unemployment Benefit Claims NOV -21.5K 68.8K 45.0K
01:30 PM
US
Goods Trade Balance Adv NOV $-86.0B
01:30 PM
US
Retail Inventories Ex Autos MoM Adv NOV 0.1%
01:30 PM
US
Wholesale Inventories MoM Adv NOV 0.1%
03:00 PM
US
Pending Home Sales MoM NOV 3.3% 2.4% ® 1% 0.7%
03:00 PM
US
Pending Home Sales YoY NOV 2.6% -0.4% -0.6%
03:30 PM
US
Dallas Fed Manufacturing Index DEC -10.9 -10.4 -2.5
09:00 PM
KR
Business Confidence DEC 70 70 72
10:00 PM
US
EIA Crude Oil Stocks Change DEC/19 0.405M -1.274M -2.4M
10:00 PM
US
EIA Gasoline Stocks Change DEC/19 2.862M 4.808M 1.1M
BR
BCB Focus Market Readout
Tuesday December 30 2025 Actual Previous Consensus Forecast
07:00 AM
TR
Unemployment Rate NOV 8.6% 8.5% 8.5%
08:00 AM
ES
Inflation Rate MoM Prel DEC 0.3% 0.2% 0.3%
08:00 AM
ES
Inflation Rate YoY Prel DEC 2.9% 3% 2.8% 2.9%
12:00 PM
BR
Unemployment Rate NOV 5.2% 5.4% 5.4% 5.4%
02:00 PM
US
S&P/Case-Shiller Home Price YoY OCT 1.3% 1.4% 1.1% 1.3%
02:45 PM
US
Chicago PMI DEC 43.5 36.3 39.5 39
07:00 PM
US
FOMC Minutes
09:30 PM
US
API Crude Oil Stock Change DEC/26 1.7M 2.4M
11:00 PM
KR
Inflation Rate YoY DEC 2.3% 2.4% 2.3% 2.4%
Wednesday December 31 2025 Actual Previous Consensus Forecast
01:30 AM
CN
NBS Manufacturing PMI DEC 50.1 49.2 49.2 49.5
01:30 AM
CN
NBS Non Manufacturing PMI DEC 50.2 49.5 49.8 49.9
01:45 AM
CN
RatingDog Manufacturing PMI DEC 50.1 49.9 49.8 49.9
07:00 AM
TR
Balance of Trade Final NOV $-8B $-7.6B $-7.8B $-7.8B
12:00 PM
ZA
Balance of Trade NOV ZAR 37.7B ZAR15B ® ZAR 30.0B
01:30 PM
US
Initial Jobless Claims DEC/27 199K 215K ® 220K 222.0K
03:30 PM
US
EIA Crude Oil Stocks Change DEC/26 -1.934M 0.405M -0.9M
03:30 PM
US
EIA Gasoline Stocks Change DEC/26 5.845M 2.862M 1.9M
Thursday January 01 2026 Actual Previous Consensus Forecast
12:00 AM
KR
Exports YoY DEC 13.4% 8.4% 8.3%
Friday January 02 2026 Actual Previous Consensus Forecast
12:30 AM
SG
GDP Growth Rate QoQ Adv Q4 1.9% 2.4%
12:30 AM
KR
S&P Global Manufacturing PMI DEC 50.1 49.4 49.9
07:00 AM
GB
Nationwide Housing Prices MoM DEC -0.4% 0.3% 0.1% 0.3%
07:00 AM
GB
Nationwide Housing Prices YoY DEC 0.6% 1.8% 1.2% 1.4%
08:15 AM
ES
HCOB Manufacturing PMI DEC 49.6 51.5 51 51.2
08:45 AM
IT
HCOB Manufacturing PMI DEC 47.9 50.6 50 50.2
12:00 PM
MX
Business Confidence DEC 48.9 48.7 ® 48.8
01:30 PM
ES
Consumer Confidence NOV 76 78.7 79
02:30 PM
CA
S&P Global Manufacturing PMI DEC 48.6 48.4 49
Saturday January 03 2026 Actual Previous Consensus Forecast
03:15 PM
US
Fed Paulson Speech
07:30 PM
US
Fed Paulson Speech
Sunday January 04 2026 Actual Previous Consensus Forecast
05:30 PM
US
Fed Kashkari Speech
11:30 PM
US
Fed Cook Speech
OP
OPEC and non-OPEC Ministerial Meeting
Monday January 05 2026 Actual Previous Consensus Forecast
01:45 AM
CN
RatingDog Services PMI DEC 52.0 52.1 52.0 51.8
04:00 AM
ID
Balance of Trade NOV $2.66B $2.4B $3.1B $2.7B
04:30 AM
ID
Inflation Rate YoY DEC 2.92% 2.72% 2.73% 2.5%
07:00 AM
TR
Inflation Rate MoM DEC 0.89% 0.87% 0.98% 1.0%
07:00 AM
TR
Inflation Rate YoY DEC 30.89% 31.07% 31% 31.0%
08:00 AM
ES
Unemployment Change DEC -16.3K -18.8K 5.7K -20.0K
09:30 AM
GB
BoE Consumer Credit NOV £2.077B £1.713B ® £1.1B £1.2B
09:30 AM
GB
Mortgage Approvals NOV 64.53K 65.01K ® 64.4K 64.8K
09:30 AM
GB
Mortgage Lending NOV £4.49B £4.16B ® £4.5B £4.7B
03:00 PM
US
ISM Manufacturing PMI DEC 47.9 48.2 48.3 48
03:00 PM
US
ISM Manufacturing Employment DEC 44.9 44.0 44.1
05:40 PM
CA
BoC Macklem Speech
BR
BCB Focus Market Readout
Tuesday January 06 2026 Actual Previous Consensus Forecast
07:45 AM
FR
Inflation Rate YoY Prel DEC 0.8% 0.9% 0.9% 0.9%
07:45 AM
FR
Inflation Rate MoM Prel DEC 0.1% -0.2% 0.2% 0.2%
08:00 AM
TR
Balance of Trade Prel DEC $-9.4B $-8B $ -9.3B
08:15 AM
ES
HCOB Services PMI DEC 57.1 55.6 54.5 54.8
08:45 AM
IT
HCOB Services PMI DEC 51.5 55.0 54 54.7
12:00 PM
MX
Consumer Confidence DEC 44.7 44.1 ® 45
01:00 PM
BR
S&P Global Services PMI DEC 53.7 50.1 50.5
01:00 PM
DE
Inflation Rate YoY Prel DEC 1.8% 2.3% 2% 2.2%
01:00 PM
DE
Inflation Rate MoM Prel DEC 0.0% -0.2% 0.2% 0.4%
01:00 PM
US
Fed Barkin Speech
05:00 PM
US
Fed Jefferson Speech
06:20 PM
BR
Balance of Trade DEC $9.6B $6.74B ® $7.1B $6.5B
09:30 PM
US
API Crude Oil Stock Change JAN/02 -2.8M 1.7M 1.2M
Wednesday January 07 2026 Actual Previous Consensus Forecast
12:30 AM
AU
Building Permits MoM Prel NOV 15.2% -6.1% ® 2% 1.9%
12:30 AM
AU
Inflation Rate MoM NOV 0.0% 0.0% 0.4%
12:30 AM
AU
Inflation Rate YoY NOV 3.4% 3.8% 3.7% 3.8%
12:30 AM
AU
RBA Trimmed Mean CPI MoM NOV 0.3% 0.3% 0.2%
12:30 AM
AU
RBA Trimmed Mean CPI YoY NOV 3.2% 3.3% 3.1%
07:00 AM
DE
Retail Sales MoM NOV -0.6% 0.3% ® 0.2% 0.4%
07:00 AM
DE
Retail Sales YoY NOV 1.1% 1.6% ® 1.2%
07:45 AM
FR
Consumer Confidence DEC 90 89 90 89
08:55 AM
DE
Unemployed Persons DEC 2.977M 2.973M 2.978M
08:55 AM
DE
Unemployment Change DEC 3K 1K 5K 5.0K
08:55 AM
DE
Unemployment Rate DEC 6.3% 6.3% 6.3% 6.3%
09:30 AM
GB
S&P Global Construction PMI DEC 40.1 39.4 42.5 40.1
10:00 AM
EA
Inflation Rate YoY Flash DEC 2% 2.1% 2% 2.0%
10:00 AM
EA
Core Inflation Rate YoY Flash DEC 2.3% 2.4% 2.4% 2.3%
10:00 AM
EA
Inflation Rate MoM Flash DEC 0.2% -0.3% 0.3%
10:00 AM
IT
Inflation Rate YoY Prel DEC 1.2% 1.1% 1.1% 1.1%
10:00 AM
IT
Inflation Rate MoM Prel DEC 0.2% -0.2% 0.2% 0.1%
10:30 AM
IN
Fiscal Year GDP Growth Prel 2025-26 7.4% 6.5% 7.7%
12:00 PM
US
MBA 30-Year Mortgage Rate JAN/02 6.25% 6.32%
12:00 PM
US
MBA 30-Year Mortgage Rate DEC/26 6.32% 6.31%
01:15 PM
US
ADP Employment Change DEC 41K -29K ® 47K 45.0K
03:00 PM
CA
Ivey PMI s.a DEC 51.9 48.4 49.5 49.5
03:00 PM
US
ISM Services PMI DEC 54.4 52.6 52.3 52
03:00 PM
US
JOLTs Job Openings NOV 7.146M 7.449M ® 7.60M 7.7M
03:00 PM
US
Factory Orders MoM OCT -1.3% 0.2% -1.2% -0.8%
03:30 PM
US
EIA Crude Oil Stocks Change JAN/02 -3.831M -1.934M 1.1M
03:30 PM
US
EIA Gasoline Stocks Change JAN/02 7.702M 5.845M 2.9M
09:10 PM
US
Fed Bowman Speech
Thursday January 08 2026 Actual Previous Consensus Forecast
12:30 AM
AU
Balance of Trade NOV A$2.936B A$4.353B ® A$4.9B A$3.8B
05:00 AM
JP
Consumer Confidence DEC 37.2 37.5 37.8 38.1
07:00 AM
DE
Factory Orders MoM NOV 5.6% 1.6% ® -1% -0.6%
07:00 AM
GB
Halifax House Price Index MoM DEC -0.6% -0.1% ® 0.2% 0.1%
07:00 AM
GB
Halifax House Price Index YoY DEC 0.3% 0.6% ® 1.1% 1.0%
07:45 AM
FR
Balance of Trade NOV €-4.2B €-3.5B ® €-4.2B €-3.4B
09:00 AM
IT
Unemployment Rate NOV 5.7% 5.8% ® 6% 6.0%
10:00 AM
EA
Economic Sentiment DEC 96.7 97.1 ® 97 96.9
10:00 AM
EA
Unemployment Rate NOV 6.3% 6.4% 6.4% 6.4%
12:00 PM
BR
Industrial Production MoM NOV 0% 0% ® 0.2% 0.2%
12:00 PM
MX
Inflation Rate MoM DEC 0.28% 0.66% 0.40% 0.3%
12:00 PM
MX
Inflation Rate YoY DEC 3.69% 3.8% 3.80% 3.9%
01:30 PM
CA
Balance of Trade OCT C$-0.58B C$0.24B ® C$-1.4B C$-6.3B
01:30 PM
US
Balance of Trade OCT $-29.4B $-48.1B ® $-58.9B $-54.0B
01:30 PM
US
Exports OCT $302B $294.2B ® $290.0B
01:30 PM
US
Imports OCT $331.4B $342.4B ® $344.0B
01:30 PM
US
Initial Jobless Claims JAN/03 208K 200K ® 210K 205.0K
01:30 PM
US
Nonfarm Productivity QoQ Prel Q3 4.9% 4.1% ® 3% 2.9%
01:30 PM
US
Unit Labour Costs QoQ Prel Q3 -1.9% -2.9% ® 1% 0.8%
11:30 PM
JP
Household Spending MoM NOV 6.2% -3.5% 2.7% 2.3%
11:30 PM
JP
Household Spending YoY NOV 2.9% -3% -0.9% -0.9%
Friday January 09 2026 Actual Previous Consensus Forecast
01:30 AM
CN
Inflation Rate YoY DEC 0.8% 0.7% 0.9% 0.7%
01:30 AM
CN
Inflation Rate MoM DEC 0.2% -0.1% 0.0%
01:30 AM
CN
PPI YoY DEC -1.9% -2.2% -2% -1.7%
07:00 AM
DE
Balance of Trade NOV €13.1B €17.2B ® €16.5B €17.1B
07:00 AM
DE
Exports MoM NOV -2.5% 0.3% ® 0% 0.2%
07:00 AM
DE
Industrial Production MoM NOV 0.8% 2% ® -0.4% -0.4%
07:00 AM
TR
Industrial Production YoY NOV 2.4% 2.2% 2.9%
07:45 AM
FR
Industrial Production MoM NOV -0.1% 0.2% 0% 0.6%
09:00 AM
IT
Retail Sales MoM NOV 0.5% 0.5% 0.3% 0.2%
10:00 AM
EA
Retail Sales MoM NOV 0.2% 0.3% ® 0.1% 0.5%
11:00 AM
ES
Business Confidence DEC -3.5 -3.2 ® -2.8
12:00 PM
BR
Inflation Rate MoM DEC 0.33% 0.18% 0.35% 0.2%
12:00 PM
BR
Inflation Rate YoY DEC 4.26% 4.46% 4.30% 4.4%
01:30 PM
CA
Unemployment Rate DEC 6.8% 6.5% 6.6% 6.70%
01:30 PM
CA
Employment Change DEC 8.2K 53.6K -5K 40.0K
01:30 PM
CA
Full Time Employment Chg DEC 50.2K -9.4K 25.0K
01:30 PM
CA
Part Time Employment Chg DEC -42K 63K 15.0K
01:30 PM
CA
Participation Rate DEC 65.4% 65.1% 65.3%
01:30 PM
US
Building Permits Prel OCT 1.412M 1.415M 1.35M
01:30 PM
US
Building Permits Prel SEP 1.415M 1.330M ® 1.35M 1.34M
01:30 PM
US
Housing Starts SEP 1.306M 1.291M ® 1.33M 1.32M
01:30 PM
US
Housing Starts OCT 1.246M 1.306M 1.33M
01:30 PM
US
Non Farm Payrolls DEC 50K 56K ® 60K 45.0K
01:30 PM
US
Unemployment Rate DEC 4.4% 4.5% ® 4.5% 4.6%
01:30 PM
US
Average Hourly Earnings MoM DEC 0.3% 0.2% ® 0.3% 0.2%
01:30 PM
US
Average Hourly Earnings YoY DEC 3.8% 3.6% ® 3.6% 3.5%
01:30 PM
US
Building Permits MoM Prel OCT -0.2% 6.4% 0.7%
01:30 PM
US
Building Permits MoM Prel SEP 6.4% -2.3% 0.8%
01:30 PM
US
Housing Starts MoM OCT -4.6% 1.2% 0.8%
01:30 PM
US
Housing Starts MoM SEP 1.2% -9.1% ® 1.0%
01:30 PM
US
Participation Rate DEC 62.4% 62.5% 62.6%
03:00 PM
US
Michigan Consumer Sentiment Prel JAN 54.0 52.9 53.5 52.7
03:00 PM
US
Fed Kashkari Speech
06:35 PM
US
Fed Barkin Speech
Monday January 12 2026 Actual Previous Consensus Forecast
10:30 AM
IN
Inflation Rate YoY DEC 1.33% 0.71% 1.50% 1.4%
05:30 PM
US
Fed Bostic Speech
05:45 PM
US
Fed Barkin Speech
11:00 PM
US
Fed Williams Speech
11:30 PM
AU
Westpac Consumer Confidence Change JAN -1.7% -9% 2.6%
11:30 PM
AU
Westpac Consumer Confidence Index JAN 92.9 94.5 97
11:50 PM
JP
Current Account NOV ¥3674B ¥2834B ¥3594B ¥3300.0B
BR
BCB Focus Market Readout
Tuesday January 13 2026 Actual Previous Consensus Forecast
12:01 AM
GB
BRC Retail Sales Monitor YoY DEC 1% 1.2% 0.6% 0.9%
01:15 PM
US
ADP Employment Change Weekly 11.75K 11.0K ®
01:30 PM
US
Core Inflation Rate MoM DEC 0.2% 0.3% 0.2%
01:30 PM
US
Core Inflation Rate YoY DEC 2.6% 2.6% 2.7% 2.6%
01:30 PM
US
Inflation Rate MoM DEC 0.3% 0.3% 0.2%
01:30 PM
US
Inflation Rate YoY DEC 2.7% 2.7% 2.7% 2.6%
01:30 PM
US
CPI DEC 324.05 324.12 323.8
01:30 PM
US
CPI s.a DEC 326.030 325.031 325.7
03:00 PM
US
New Home Sales SEP 0.738M 0.711M ® 0.69M
03:00 PM
US
New Home Sales OCT 0.737M 0.738M 0.72M 0.7M
03:00 PM
US
New Home Sales MoM OCT -0.1% 3.8% 1.4%
03:00 PM
US
New Home Sales MoM SEP 3.8% 11.3% ® -13.8%
03:35 PM
US
Fed Musalem Speech
07:00 PM
US
Monthly Budget Statement DEC $-145B $-173B $-150B $-250.0B
09:00 PM
US
Fed Barkin Speech
09:30 PM
US
API Crude Oil Stock Change JAN/09 5.27M -2.8M -2M
11:00 PM
KR
Unemployment Rate DEC 4% 2.7% 2.7%
Wednesday January 14 2026 Actual Previous Consensus Forecast
03:00 AM
CN
Balance of Trade DEC $114.1B $111.68B $113.6B $ 105B
03:00 AM
CN
Exports YoY DEC 6.6% 5.9% 3%
03:00 AM
CN
Imports YoY DEC 5.7% 1.9% 0.9%
12:00 PM
US
MBA 30-Year Mortgage Rate JAN/09 6.18% 6.25%
01:30 PM
US
PPI MoM NOV 0.2% 0.1% 0.2% 0.2%
01:30 PM
US
PPI MoM OCT 0.1% 0.6% ® 0.3%
01:30 PM
US
Retail Sales MoM NOV 0.6% -0.1% ® 0.4% 0.3%
01:30 PM
US
Core PPI MoM NOV 0.0% 0.3% 0.2% 0.2%
01:30 PM
US
Core PPI MoM OCT 0.3% 0.4% ® 0.2%
01:30 PM
US
Current Account Q3 $-226.4B $-249.2B ® $-238.4B $ -250.0B
01:30 PM
US
Retail Sales Control Group MoM NOV 0.4% 0.6% ® 0.4% 0.1%
01:30 PM
US
Retail Sales Ex Autos MoM NOV 0.5% 0.2% ® 0.4% 0.1%
02:50 PM
US
Fed Paulson Speech
03:00 PM
US
Existing Home Sales DEC 4.35M 4.14M ® 4.21M 4.06M
03:00 PM
US
Business Inventories MoM OCT 0.3% 0.3% ® 0.2% 0.1%
03:00 PM
US
Existing Home Sales MoM DEC 5.1% 0.7% ® -1.6%
03:00 PM
US
Fed Miran Speech
03:30 PM
US
EIA Crude Oil Stocks Change JAN/09 3.391M -3.831M -2.2M
03:30 PM
US
EIA Gasoline Stocks Change JAN/09 8.977M 7.702M 4M
05:00 PM
US
Fed Bostic Speech
05:00 PM
US
Fed Kashkari Speech
07:10 PM
US
Fed Williams Speech
Thursday January 15 2026 Actual Previous Consensus Forecast
12:01 AM
GB
RICS House Price Balance DEC -14% -14% ® -16% -16.0%
01:00 AM
KR
Interest Rate Decision 2.5% 2.5% 2.5% 2.5%
07:00 AM
DE
Wholesale Prices MoM DEC -0.2% 0.3% 0.2% 0.2%
07:00 AM
DE
Wholesale Prices YoY DEC 1.2% 1.5% 1.6%
07:00 AM
GB
GDP MoM NOV 0.3% -0.1% 0.1% -0.1%
07:00 AM
GB
GDP 3-Month Avg NOV 0.1% 0% ® -0.2% -0.1%
07:00 AM
GB
Goods Trade Balance NOV £-23.71B £-24.17B ® £-20.4B £-19.8B
07:00 AM
GB
Goods Trade Balance Non-EU NOV £-11.46B £-11.81B ® £-9.1B
07:00 AM
GB
Industrial Production MoM NOV 1.1% 1.3% ® 0.1% -0.3%
07:00 AM
GB
Manufacturing Production MoM NOV 2.1% 0.4% ® 0.5% 0.4%
07:30 AM
CN
New Yuan Loans DEC CNY910B CNY390B CNY800B CNY910.0B
08:30 AM
IN
Balance of Trade DEC $-25.04B $-24.53B $ -30B
09:00 AM
EA
ECB Economic Bulletin
09:00 AM
DE
Full Year GDP Growth 2025 0.2% -0.5% ® 0.2%
09:00 AM
IT
Industrial Production MoM NOV 1.5% -1% 0.5% 0.6%
10:00 AM
EA
Balance of Trade NOV €9.9B €17.9B ® €15.2B €19.5B
10:00 AM
EA
Industrial Production MoM NOV 0.7% 0.7% ® 0.5% 0.2%
11:00 AM
IT
Balance of Trade NOV €5.078B €4.183B ® €5.2B €3.6B
12:00 PM
BR
Retail Sales MoM NOV 1% 0.5% 0.3% 0.5%
01:30 PM
US
Export Prices MoM NOV 0.1%
01:30 PM
US
Export Prices MoM OCT 0.0% -0.1%
01:30 PM
US
Import Prices MoM OCT 0% 0.1%
01:30 PM
US
Import Prices MoM NOV -0.1% 0.1%
01:30 PM
US
Initial Jobless Claims JAN/10 198K 207K ® 215K 212.0K
01:30 PM
US
NY Empire State Manufacturing Index JAN 7.70 -3.70 ® 1 1
01:30 PM
US
Philadelphia Fed Manufacturing Index JAN 12.6 -8.8 ® -2 -4
01:35 PM
US
Fed Bostic Speech
02:15 PM
US
Fed Barr Speech
05:40 PM
US
Fed Barkin Speech
09:00 PM
US
Net Long-term TIC Flows NOV $220.2B $30.9B ®



About our calendar

Trading Economics provides its users with a near real-time economic calendar updated 24 hours a day. Actual values are based on official sources, not third party data providers. Previous values are available before an economic indicator is reported and marked as revised (*) accordingly. Survey consensus figures are provided displaying the average forecast among a representative group of economists. We also provide forecasts which are driven by our analysts’ expectations and technically projected using an autoregressive integrated moving average (ARIMA) model.

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