Highlights
In Switzerland, consumer inflation is expected to be easing slightly, with the CPI seen falling 0.2 percent on the month in December after being unchanged in November to reduce the annual rate from 3.0 percent to 2.9 percent.
Inflation in France remains elevated. The consumer price index for December is forecast to have risen 0.3 percent on the month after rising at the same pace in November, nudging annual inflation a tick higher to 6.3 percent.
No revisions are expected to the December final composite PMI readings for France (48.0), Germany (48.9) and the Eurozone (48.8).
U.S. manufacturing activity is expected to slow further after slipping into its first contraction since the initial stage of the pandemic on slowing global growth and cooling labor conditions. The Institute for Supply Management index is forecast at 48.0, down from 49.0 in November and 50.2 in October. The ISM survey for November indicated supply chains continued improving while price pressures may be easing.
The Labor Department's JOLTS report is expected to show that job openings, which have been on the decline since August, fell to 10.1 million in November from 10.334 million in October.
After falling sharply to a 14.1 million annualized rate in November, unit vehicle sales in December are expected to fall further to a 13.7 million rate.
In China, the Caixin services PMI is seen little changed at 46.8 in December after plunging to 46.7 in November from 48.4 in October. China eased its strict public health rules in early December in light of widespread protests against the government's zero Covid policy. Data released this week showed the Caixin manufacturing PMI showed the sector's activity shrank for the fifth straight month in December, falling further to 49.0 from 49.4 in November.
Inflation in France remains elevated. The consumer price index for December is forecast to have risen 0.3 percent on the month after rising at the same pace in November, nudging annual inflation a tick higher to 6.3 percent.
No revisions are expected to the December final composite PMI readings for France (48.0), Germany (48.9) and the Eurozone (48.8).
U.S. manufacturing activity is expected to slow further after slipping into its first contraction since the initial stage of the pandemic on slowing global growth and cooling labor conditions. The Institute for Supply Management index is forecast at 48.0, down from 49.0 in November and 50.2 in October. The ISM survey for November indicated supply chains continued improving while price pressures may be easing.
The Labor Department's JOLTS report is expected to show that job openings, which have been on the decline since August, fell to 10.1 million in November from 10.334 million in October.
After falling sharply to a 14.1 million annualized rate in November, unit vehicle sales in December are expected to fall further to a 13.7 million rate.
In China, the Caixin services PMI is seen little changed at 46.8 in December after plunging to 46.7 in November from 48.4 in October. China eased its strict public health rules in early December in light of widespread protests against the government's zero Covid policy. Data released this week showed the Caixin manufacturing PMI showed the sector's activity shrank for the fifth straight month in December, falling further to 49.0 from 49.4 in November.
Definition
Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.
Description
Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.
