In the week ahead, U.S. data releases will be in focus after the shutdown delayed the release of some key economic reports. The Department of Labor is to publish the September nonfarm payrolls report on Tuesday and data on durable goods orders is to be published on Friday. Meanwhile, the U.K. is to release preliminary data on third quarter growth, while the Bank of England is to publish the minutes of its latest policy meeting. The euro zone is to release data on manufacturing and service sector activity as in addition to the Ifo index of German business climate.
Monday, October 21
Japan is to release data on the trade balance, the difference in value between exports and imports. Germany is to produce data on producer price inflation, a leading indicator of consumer inflation. Canada is to publish a report on wholesale sales, a leading indicator of consumer spending. The U.S. is to release private sector data on existing home sales, a leading indicator of demand in the housing sector.
Tuesday, October 22
The U.K. is to release data on public sector net borrowing. Canada is to produce data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. The U.S. is to publish the September nonfarm payrolls report, which had been originally scheduled for release on October 4.
Wednesday, October 23
Australia is to publish an index of leading economic indicators as well as data on consumer price inflation. The BoE is to release the minutes of its latest policy meeting, which contain valuable insights into economic conditions from the bank’s perspective. The Bank of Canada is to announce its benchmark interest rate and publish its rate statement, which outlines economic conditions and the factors affecting the monetary policy decision. The announcement is to be followed by a press conference.
Thursday, October 24
New Zealand is to publish a report on the trade balance. China is to release the preliminary reading of the HSBC manufacturing index. The euro zone is to release preliminary data on manufacturing and service sector activity, a leading indicator of economic health. Germany and France are also to release individual reports. The U.K. is to publish private sector data on industrial order expectations. Later in the day, BoE Governor Mark Carney is to speak; his comments will be closely watched. The U.S. is to release the weekly report on initial jobless claims, as well as data on new home sales.
Friday, October 25
Japan is to publish data on consumer price inflation. The Ifo institute is to release a report on German business climate, a leading indicator of economic health. The U.K. is to publish preliminary data on third quarter gross domestic product, the broadest indicator of economic activity and the leading indicator of economic growth. The U.S. is to round up the week with data on durable goods orders, a leading indicator of production, as well as revised data on consumer sentiment from the University of Michigan.