Economic News for the week ahead – 21 May
A somewhat lighter week of Economic news flow this week. The local market kicks things off with Retail Sales data due out shortly at 11.30AM Monday morning. The pundits are predicting a 0.4% rise Month on Month. Eurozone’s Consumer Confidence is expected to drop again this month when the number prints tomorrow, though falling by -3.3 vs -5.1 last month.
PMI’s start to hit the screen come Wednesday as global manufacturing continues to heat up. The energy markets will have an eye on EIA Crude Inventory market for more signs that oil demand is picking up. The week ends with some US focussed news. GDP (expected at +6.4% QoQ, flat on the prior print, and initial jobless claims (expected to fall to 380k) will be announced on Thursday. Further Fed presentations on Thursday as well could see continued risk to tapering. The week ends with US PCE on Friday – a key print for Fed rate decisions in the US.
