Financial markets worldwide are gearing up for a crucial week filled with significant economic updates. In the United States, the spotlight will be on the inflation rate, retail sales, producer inflation, the Michigan consumer sentiment index, and industrial production.
Across the pond, the UK will focus on its unemployment rate, industrial production, GDP growth for January, and foreign trade statistics. From China, monetary indicators like new yuan loans, car sales, and the house price index will draw attention.
Additionally, inflation rates in Brazil, India, and Russia will be under scrutiny, while industrial production figures for the Euro Area and India, alongside Australia’s NAB business confidence index, will provide further insights into the global economic landscape.
Americas
In the US, the February CPI report is highly anticipated, with headline inflation expected to remain at 3.1% and the core rate possibly dropping to 3.7%, marking its lowest since April 2021. Retail sales could see a 0.5% increase, attempting to offset a 0.8% decline from January.
Industrial production is predicted to hold steady following a slight contraction, while the Michigan consumer sentiment for March is anticipated to remain at 76.9.
Other key data include producer and foreign trade prices, business inventories, the government’s monthly budget statement, and the NY Empire State Manufacturing Index.
In Canada, housing starts will be closely watched, along with Brazil’s inflation figures, retail sales, and business morale.
Europe
The UK awaits its monthly GDP figures, alongside updates on industrial production, trade balance, and the job market.
The economy is expected to show signs of recovery in January, with the unemployment rate potentially steady at 3.8%. Average weekly earnings might see a slight decrease to 5.7%.
Additionally, final inflation figures for Germany, France, and Italy are due, with Euro Area’s industrial activity expected to decline. In Russia, inflation could hit a 12-month high of 7.6%.
Other important data releases include Germany’s wholesale prices, Italy’s retail sales and foreign trade data, Switzerland’s consumer confidence index, Turkey’s unemployment rate, and industrial production numbers.
Asia and Australia
China’s financial community anticipates the People’s Bank of China’s announcement on the one-year medium-term lending facility rate, with speculations of a potential rate cut.
The Lunar New Year holidays are expected to impact loan growth, while the house price index remains a crucial indicator.
In Japan, final GDP estimates for Q4 may reveal stronger growth than initially reported, attributed to increased corporate spending. India might experience a slight easing in inflation, with industrial production expected to grow.
Trade data from the Philippines and Indonesia, along with Australia’s NAB business confidence index, will also provide valuable insights into the economic conditions in these regions.
As these diverse economic indicators unfold, they will offer a comprehensive view of the global economic health, influencing investment strategies and market movements across the globe.