Saturday, April 10, 2010

Econ Grapher - Economic Calendar - 12 April 2010

Here's the Economic Calendar for the week commencing 12 April 2010. The big data out this week is the China update. China puts out basically all its key stats in one week (GDP, CPI, industrial production, retail sales, etc). There's also industrial production figures out from the US, EU, and Japan, so it will be an interesting week in terms of the manufacturing sector. There's also key inflation updates with CPI due from the US and EU.

(More commentary follows the table)

Day Time (GMT) Code Event/Release Forecast Previous
MON 8:15 CAD Housing Starts 201K 197K
MON 14:30 CAD Business Outlook Future Sales
JPY Bank of Japan Meeting Minutes

AUD Home Loans -0.90% -7.90%
CNY New Loans
TUE 12:30 USD Trade Balance -$39.0B -$37.3B
TUE 12:30 CAD International Merchandise Trade $0.7B $0.8B
TUE 22:45 NZD Retail Sales 0.20% 0.80%
WED 0:30 AUD Westpac Consumer Confidence
WED 9:00 EUR Industrial Production 0.10% 1.50%
WED 12:30 USD Retail Sales 1.00% 0.30%
WED 12:30 USD Consumer Price Index 2.40% 2.10%
WED 22:00 CNY Consumer Price Index 2.60% 2.70%
WED 22:00 CNY Gross Domestic Product (Q1) 11.70% 10.70%
WED 22:00 CNY Industrial Production 18.20% 20.70%
WED 22:00 CNY Fixed Asset Investment 26.10% 26.60%
WED 22:00 CNY Retail Sales 18.10% 17.90%
THU 4:30 JPY Industrial Production
THU 13:15 USD Industrial Production 0.60% 0.10%
THU 22:00 NZD House Price Index
FRI 9:00 EUR Consumer Price Index 1.50% 1.50%
FRI 13:55 USD U. of Michigan Confidence 75 73.6

The China updates are always great for getting a good broad gauge on how that economy is tracking. The pick is for GDP to grow in double digits - which is probably right, and the pick for CPI is 2.6% - which may be a bit low. Of course you always need to compare the figures to what's been going on recently; you can find a few China charts in the graph library.

On Industrial Production, the figures from Japan will probably be most interesting for any clues about a broadening of the trade-driven recovery there. In the US there is likely to be a pick up; as pointed to by the ISM PMI figures. While in the EU, Germany will likely drive a small pick up in aggregate manufacturing activity.

On the inflation front it will also be interesting to get inflation stats from the big three economies. China is probably the one with the most inflationary pressure at present. However the US is at risk of a pick up in inflation, especially imported inflation is the Yuan strengthens and makes Chinese imports more expensive. Meanwhile the Euro zone is not yet seeing any broad based inflationary pressure.

Stay tuned for updates...

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