Week Ahead

Next week the US will be publishing retail sales, industrial production, housing data and flash Michigan's consumer sentiment. Elsewhere, other important releases include: UK unemployment and wage growth; Eurozone industrial output and foreign trade; Germany Q1 GDP growth; China industrial production, retail sales and fixed asset investment; Japan housing starts and current account; and Australia employment figures, business and consumer morale.
Joana Ferreira | joana.ferreira@tradingeconomics.com 5/11/2019 9:02:02 AM
In the US, the preliminary reading of Michigan's consumer sentiment should point to an improvement in morale during May; while figures from the Census Bureau will probably show housing starts and building permits increasing in April, following small declines in the previous month. In addition, retail sales are expected to post a modest advance, after rising the most in one-and-a-half year in March; while industrial output is set to rebound, following the previous month's fall. Other notable publications are foreign trade prices, business inventories, NY Empire State Manufacturing Index, Philadelphia Fed Manufacturing Index, NAHB Housing Market Index, and overall net capital flows.

Fed Vice Chair for Supervision Randal K. Quarles will testify before the Senate Banking Committee on Wednesday.

Elsewhere in America, the Bank of Canada will be publishing its Financial System Review. Additionallly, the country will be releasing consumer inflation rate for April and ADP employment change. The Central Bank of Mexico will probably leave its monetary policy unchanged when it meets on Thursday.

The UK will be publishing wages data and unemployment figures; and several European countries are set to release preliminary GDP figures for the first quarter of the year, including Germany, Finland, Poland, Norway and the Netherlands, while the Eurozone will be publishing its second estimate. The bloc's largest economy is seen expanding by 0.4 percent in the first quarter, after stalling in the previous period. Other key data include: the Eurozone industrial production, trade balance and construction output; Germany ZEW Economic Sentiment Index; France unemployment rate; Italy foreign trade; Sweden inflation rate; Poland interest rate decision; and Turkey unemployment rate.

China will be releasing updated figures for industrial output, retail sales, house price index and fixed asset investment. In Australia, investors will focus on employment figures, NAB business confidence, Westpac consumer confidence, home loans, wage price index, and consumer inflation expectations. Meanwhile Japan will be publishing housing starts, current account, leading economic index, bank lending, Eco Watchers Survey, and producer prices. Investors will also be waiting for India’s trade balance, consumer and wholesale prices. Consumer inflation is expected to rise to a 6-month high while producer inflation is set to slow. Other highlights for the Asia-Pacific region include: New Zealand food inflation, visitor arrivals, business NZ PMI, and Q1 producer prices; South Korea unemployment rate; Hong Kong final Q1 GDP growth; Indonesia interest rate decision and trade figures; and Malaysia Q1 GDP growth.

Investors will also react to OPEC's monthly report and further news on US-China trade talks. On the political front, the Philippine general election will be conducted on May 13th and Australian federal election on May 18th.

Week Ahead