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Here's the economic calendar for the week commencing the 30th of May 2011. This week we say goodbye to May, as such there's the May PMI numbers due out, with China, the US, and most other major economies reporting. There's also more GDP data from Canada, Switzerland, and Australia. In the US there's nonfarm payrolls, S&P/Case-Shiller house price index, and consumer confidence. In terms of monetary policy, the central banks of Russia, Canada, and Thailand are due to announce rate decisions.

(More commentary follows the table)

Date GMT Country/ Currency Event Forecast Previous
MON 05:00 JPY Housing Starts (YoY) -3.90% -2.40%
MON 12:30 CAD Gross Domestic Product (MoM) 0.20% -0.20%
MON 12:30 CAD Gross Domestic Product (YoY) 2.90%
MON 12:30 CAD Quarterly Gross Domestic Product Annualized 4.00% 3.30%
MON 23:30 JPY Jobless Rate 4.70% 4.60%
MON 23:50 JPY Industrial Production (YoY) -12.40% -13.10%
TUE 04:00 EUR German Retail Sales (YoY) 1.50% -3.50%
TUE 05:45 CHF Gross Domestic Product (QoQ) 0.70% 0.90%
TUE 05:45 CHF Gross Domestic Product (YoY) 3.00% 3.10%
TUE 06:00 CHF UBS Consumption Indicator 1.66
TUE 06:45 EUR French Consumer Spending (YoY) 4.40% 2.60%
TUE 06:45 EUR French Producer Prices (YoY) 6.40% 6.60%
TUE 07:55 EUR German Unemployment Rate s.a. 7.00% 7.10%
TUE 07:55 EUR German Unemployment Change -30K -37K
TUE 08:00 EUR Italian Unemployment Rate s.a. 8.30% 8.30%
TUE 09:00 EUR Italian Consumer Price Index - EU Harmonized (YoY) 3.00% 2.90%
TUE 09:00 EUR Eurozone Consumer Price Index Estimate (YoY) 2.80% 2.80%
TUE 09:00 EUR Eurozone Unemployment Rate 9.90% 9.90%
TUE 10:00 EUR Italian Producer Price Index (YoY) 5.50% 6.10%
TUE 13:00 CAD Bank of Canada Rate Decision 1.00% 1.00%
TUE 13:00 USD S&P/Case-Shiller 20 City s.a. (MoM%) -0.20% -0.18%
TUE 13:00 USD S&P/Case-Shiller Composite-20 (YoY) -3.40% -3.30%
TUE 13:00 USD S&P/Case-Shiller US Home Price Index (YoY) -4.10%
TUE 14:00 USD Consumer Confidence 665.00 65.40
TUE 01:00 CNY PMI Manufacturing 51.60 52.90
TUE 01:30 AUD Gross Domestic Product (QoQ) -0.30% 0.70%
TUE 01:30 AUD Gross Domestic Product (YoY) 1.80% 2.70%
TUE 02:30 CNY HSBC Manufacturing PMI 51.80
WED 05:30 EUR French ILO Unemployment Rate 9.40% 9.60%
WED 07:45 EUR Italian Purchasing Manager Index Manufacturing 53.00 55.50
WED 07:50 EUR French Purchasing Manager Index Manufacturing 55.00 55.00
WED 07:55 EUR German Purchasing Manager Index Manufacturing 58.20 58.20
WED 08:00 EUR Eurozone Purchasing Manager Index Manufacturing 54.80 54.80
WED 08:30 GBP Purchasing Manager Index Manufacturing 54.10 54.60
WED 14:00 USD ISM Manufacturing 57.50 60.40
WED 01:30 AUD Retail Sales s.a. (MoM) 0.40% -0.50%
THU 01:00 CNY China Non-manufacturing PMI 62.50
THU 02:30 CNY China HSBC Services PMI 51.60
FRI 07:45 EUR Italian Purchasing Manager Index Services 51.60 52.20
FRI 07:50 EUR French Purchasing Manager Index Services 62.80 62.80
FRI 07:55 EUR German Purchasing Manager Index Services 54.90 54.90
FRI 08:00 EUR Eurozone Purchasing Manager Index Composite 55.40 55.40
FRI 08:00 EUR Eurozone Purchasing Manager Index Services 55.40 55.40
FRI 08:30 GBP Purchasing Manager Index Services 54.20 54.30
FRI 12:30 USD Change in Non-farm Payrolls 190K 244K
FRI 12:30 USD Unemployment Rate 8.90% 9.00%
FRI 14:00 USD ISM Non-Manufacturing Composite 54.00 52.80

As noted the changing of the month marks the release of another round of PMI (Purchasing Manager Index) data. It will be particularly interesting to get the final readings of manufacturing PMI data from China given that the early reading slipped a bit; likewise China's non-manufacturing PMI will also be a timely gauge on the slowdown in China. Meanwhile the US is also expected to show a slip on its manufacturing PMI, while its non-man PMI is tipped to rise a bit. All the key euro economies will be announcing PMI results also, with the eurozone composite expected to be about flat compared to April.

On GDP, Canada is up first with some monthly GDP data, which is expected to be positive month on month, and up to around 4% on an annualized basis. Next is Switzerland, which is expected to see a decent QoQ and YoY growth figure, albeit slightly slower than Q4 2011. Of course the other big one will be Australia, which is expected to report negative QoQ growth of -0.3%, which will pull the annual growth rate down to about 1.8%.

On the monetary policy front there's a couple decisions scheduled for the week ahead. The Central Bank of Russia (expected to hold at 8.25%) goes on the 30th, the Bank of Canada (expected to hold at 1.00%) goes on the 31st, and the Bank of Thailand (expected to raise its interest rate 25bps to 3.00%) goes on the 1st of June.

Elsewhere, the US has the S&P/Case-Shiller home price index data out, which is expected to show continued monthly and annual declines as the US housing market continues to stagnate. US nonfarm payrolls are expected to show about 200k jobs added, with next to no change in the unemployment rate. On unemployment, Japan also puts out job numbers this week, with its jobless rate expected to rise slightly. Likewise the eurozone is expected to show flat unemployment at about 10%.

So as always, have a great week, watch out for surprises, and stay tuned for updates...

Sources

+various statistics websites and central bank websites for verification

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: Economic Calendar: Here Comes June and the PMIs