Week Ahead

The US durable goods orders, new home sales, Chicago Fed National Activity Index and Richmond Fed Manufacturing Index will be keenly watched in the coming week, alongside Japan monetary policy meeting minutes, industrial production, retail sales, unemployment and housing starts, China profits data, South Korea consumer morale, and Australia private sector credit.
Joana Ferreira | joana.ferreira@tradingeconomics.com 12/20/2019 7:29:28 PM
Next week the economic calendar is light and market activity is expected to drop significantly as the Christmas holiday break begins. German stock market will close from December 24th to 26th; while in the US and the UK, trading ends early on Christmas Eve ahead of the stock market holiday on Christmas Day. Also, several stock markets across the globe will be closed on December 26th for Boxing Day.

The US durable goods orders are seen rising further in November, following a 0.6 percent growth in October; and new home sales are expected to rebound from a 0.7 percent drop. Other notable publications are Chicago Fed National Activity Index and Richmond Fed Manufacturing Index.

Elsewhere in America, key data to follow include Canada monthly GDP, Mexico unemployment and trade balance, and Brazil jobless rate.

In Europe, important releases are Germany import prices, France registered unemployment, Spain and Sweden retail trade, the Netherlands final GDP data and current account, Turkey manufacturing confidence, and Switzerland investor morale.

The Bank of Japan meeting minutes and the summary of opinions will be keenly watched for further clues on the next monetary policy steps. On the economic data front, important releases for Japan include November’s preliminary industrial output, retail sales, unemployment rate, all industry activity index, housing starts, and Tokyo inflation. Other key data for the Asia-Pacific region include: China industrial profits; South Korea consumer confidence; Australia private sector credit; Taiwan industrial output, jobless rate, retail sales; Thailand trade balance and industrial output; Singapore inflation and manufacturing production; and Sri Lanka interest rate decision.

In Africa, the Central Bank of Egypt will hold its monetary policy meeting, but no changes are expected, and South Africa will be releasing trade figures for November.





 


Friday December 20 2019 Actual Previous
12:01 AM
GB
GfK Consumer Confidence DEC -11 -14
01:30 AM
CN
Loan Prime Rate 1Y 4.15% 4.15%
01:30 AM
CN
Loan Prime Rate 5Y 4.8% 4.8%
04:00 AM
MY
Inflation Rate YoY NOV 0.9% 1.1%
05:30 AM
NL
Consumer Confidence DEC -2 -2
07:00 AM
DE
GfK Consumer Confidence JAN 9.6 9.7
07:00 AM
TR
Consumer Confidence DEC 58.8 59.9
08:00 AM
CH
Current Account Q3 CHF 18B CHF19.2B ®
09:00 AM
IT
Business Confidence DEC 99.1 99 ®
09:00 AM
IT
Consumer Confidence DEC 110.8 108.6 ®
09:30 AM
GB
GDP Growth Rate YoY Final Q3 1.1% 1.2% ®
09:30 AM
GB
GDP Growth Rate QoQ Final Q3 0.4% -0.2%
09:30 AM
GB
Current Account Q3 £-15.86B £-24.152B ®
09:30 AM
GB
Business Investment QoQ Final Q3 0% 0.1% ®
09:30 AM
GB
Business Investment YoY Final Q3 0.5% -0.4% ®
10:00 AM
ES
Balance of Trade OCT €-2.58B €-4.26B
10:00 AM
GB
BoE Haskel Speech
12:00 PM
GB
BoE Quarterly Bulletin
01:10 PM
BR
Consumer Confidence Q4 47.3 47.3
01:30 PM
CA
New Housing Price Index YoY OCT 0.0% -0.1%
01:30 PM
CA
New Housing Price Index MoM OCT 0.1% 0.2%
01:30 PM
CA
New Housing Price Index MoM NOV -0.1% 0.1%
01:30 PM
CA
New Housing Price Index YoY NOV -0.1% 0.0%
01:30 PM
CA
Retail Sales MoM OCT -1.2% 0% ®
01:30 PM
US
GDP Growth Rate QoQ Final Q3 2.1% 2%
01:30 PM
US
Corporate Profits QoQ Final Q3 0.6% 3.7%
01:30 PM
US
GDP Price Index QoQ Final Q3 1.7% 2.6%
03:00 PM
EA
Consumer Confidence Flash DEC -8.1 -7.2
03:00 PM
US
Personal Income MoM NOV 0.5% 0.1% ®
03:00 PM
US
Personal Spending MoM NOV 0.4% 0.3%
03:00 PM
US
PCE Price Index YoY NOV 1.5% 1.4% ®
03:00 PM
US
PCE Price Index MoM NOV 0.2% 0.2%
03:00 PM
US
Michigan Consumer Expectations Final DEC 88.9 87.3
03:00 PM
US
Michigan Current Conditions Final DEC 115.5 111.6
03:00 PM
US
Michigan Consumer Sentiment Final DEC 99.3 96.8
03:00 PM
US
Michigan 5 Year Inflation Expectations Final DEC 2.2% 2.5%
03:00 PM
US
Michigan Inflation Expectations Final DEC 2.3% 2.5%
Monday December 23 2019 Actual Previous
03:00 AM
TH
Balance of Trade NOV $0.55B $0.51B
09:00 AM
PL
Unemployment Rate NOV 5.1% 5%
11:30 AM
BR
BCB Focus Market Readout
01:30 PM
CA
GDP MoM OCT -0.1% 0.1%
01:30 PM
US
Durable Goods Orders MoM NOV -2% 0.2% ®
01:30 PM
US
Durable Goods Orders Ex Transp MoM NOV 0% 0.3% ®
01:30 PM
US
Chicago Fed National Activity Index NOV 0.56 -0.76 ®
03:00 PM
US
New Home Sales MoM NOV 1.3% -2.7% ®
03:00 PM
US
New Home Sales NOV 0.719M 0.71M ®
11:50 PM
JP
BoJ Monetary Policy Meeting Minutes
Tuesday December 24 2019 Actual Previous
05:30 AM
NL
GDP Growth Rate YoY Final Q3 1.9% 1.8%
05:30 AM
NL
GDP Growth Rate QoQ Final Q3 0.4% 0.4%
12:00 PM
MX
Unemployment Rate NOV 3.5% 3.6%
09:30 PM
US
API Crude Oil Stock Change DEC/20 -7.9M 4.7M
Thursday December 26 2019 Actual Previous
05:00 AM
JP
Housing Starts YoY NOV -12.7% -7.4%
07:00 AM
TR
Business Confidence DEC 103.6 102.0
07:00 AM
TR
Capacity Utilization DEC 77% 77.2%
11:00 AM
FR
Unemployment Benefit Claims NOV -27.8K 4K
01:30 PM
US
Initial Jobless Claims DEC/21 222K 235K ®
09:00 PM
KR
Consumer Confidence DEC 100.4 100.9
11:30 PM
JP
Unemployment Rate NOV 2.2% 2.4%
11:50 PM
JP
Retail Sales YoY NOV -2.1% -7% ®
11:50 PM
JP
Industrial Production MoM Prel NOV -0.9% -4.5%
11:50 PM
JP
BoJ Summary of Opinions
JP
BoJ Gov Kuroda Speech
Friday December 27 2019 Actual Previous
06:30 AM
VN
GDP Growth Rate YoY Q4 6.97% 7.48% ®
09:00 AM
EA
ECB Economic Bulletin
12:00 PM
BR
Unemployment Rate NOV 11.2% 11.6%
12:00 PM
MX
Balance of Trade NOV $0.79B $-0.726B
12:00 PM
ZA
Balance of Trade NOV ZAR6.1B ZAR2.75B ®
04:00 PM
US
EIA Gasoline Stocks Change 20/DEC 1.963M 2.529M
04:00 PM
US
EIA Crude Oil Stocks Change 20/DEC -5.474M -1.085M
Monday December 30 2019 Actual Previous
06:00 AM
RU
Markit Manufacturing PMI DEC 47.5 45.6
08:00 AM
ES
GDP Growth Rate YoY Final Q3 1.9% 2%
08:00 AM
ES
GDP Growth Rate QoQ Final Q3 0.4% 0.4%
08:00 AM
CH
KOF Leading Indicators DEC 96.4 92.6 ®
09:30 AM
GB
UK Finance Mortgage Approvals NOV 43.7K 41.3K ®
11:30 AM
BR
BCB Focus Market Readout
01:30 PM
US
Goods Trade Balance Adv NOV $-63.19B $-66.8B
01:30 PM
US
Wholesale Inventories MoM Adv NOV 0% 0% ®
02:45 PM
US
Chicago PMI DEC 48.9 46.3
03:00 PM
US
Pending Home Sales YoY NOV 7.4% 4.9% ®
03:30 PM
US
Dallas Fed Manufacturing Index DEC -3.2 -1.3
09:00 PM
KR
Business Confidence DEC 74 74
11:00 PM
KR
Inflation Rate YoY DEC 0.7% 0.2%
Tuesday December 31 2019 Actual Previous
01:00 AM
CN
NBS Manufacturing PMI DEC 50.2 50.2
01:00 AM
CN
Non Manufacturing PMI DEC 53.5 54.4
07:00 AM
TR
Balance of Trade NOV $-2.23B $-1.82B ®
11:00 AM
IL
GDP Growth Rate QoQ 2st Est Q3 1.0% 0.2%
11:00 AM
SA
GDP Growth Rate YoY Q3 -0.5% 0.5%
11:30 AM
IN
Current Account Q3 $-6.3B $-14.2B ®
12:00 PM
RU
Inflation Rate YoY Prel DEC 3.0% 3.5%
02:00 PM
US
S&P/Case-Shiller Home Price MoM OCT 0.1% 0.1%
02:00 PM
US
S&P/Case-Shiller Home Price YoY OCT 2.2% 2.1%
11:30 PM
US
API Crude Oil Stock Change DEC/27 -7.8M -7.9M
Wednesday January 01 2020 Actual Previous
12:00 AM
KR
Exports YoY DEC -5.2% -14.4% ®
12:00 AM
KR
Balance of Trade DEC $2.02B $3.34B ®
10:00 PM
AU
CommBank Manufacturing PMI Final DEC 49.2 49.9
Thursday January 02 2020 Actual Previous
12:00 AM
SG
GDP Growth Rate YoY Adv Q4 0.8% 0.7% ®
12:00 AM
SG
GDP Growth Rate QoQ Adv Q4 0.1% 2.4% ®
12:30 AM
KR
Markit Manufacturing PMI DEC 50.1 49.4
01:45 AM
CN
Caixin Manufacturing PMI DEC 51.5 51.8