Highlights
German retail sales are expected to rise 1.4 percent on the month in January after posting a surprise drop in December, with a 5.3 percent plunge. The year-over-year decline is expected to ease to 4.2 percent from 6.6 percent.
The unemployment rate in Germany is forecast to rise 1 tenth to 5.6 percent in February while inflationary pressures remain high, with the annual CPI rate for February is seen unchanged at 8.7 percent, although the monthly rise is expected to ease slightly to 0.7 percent from 1.0 percent in January.
In Switzerland, retail sales are seen down 2.2 percent on the year after a 2.8 percent fall in December.
The SVME purchasing managers index for manufacturers is expected to move back above 50 but at 50.4 for February, which would indicate only sluggish growth, versus 49.3 in January.
No revisions are expected to the initial February manufacturing PMI readings for France (47.9), Germany (46.5), the Eurozone (48.5) or the UK (49.2).
In the US, the final manufacturing PMI for February is expected to come in at 47.8, unchanged from the mid-month flash to indicate tangible contraction.
The Institute for Supply Management (ISM) manufacturing index has been gradually deteriorating, but February's consensus is 48.0, up from January's 47.4. The ISM January data showed US manufacturing activity was in contraction territory for the third straight month on lower new orders and production as sellers and buyers remained deadlocked over lead times and pricing, but firms kept headcounts for an expected pickup in the second half of 2023.
After falling 0.4 percent in December, construction spending for January is expected to rise 0.2 percent on the month. December saw the first decline for nonresidential spending in seven months and the seventh straight decline for residential spending.
Minneapolis Federal Reserve Bank President Neel Kashkari will participate in a conversation before a Sioux Falls.Business CEO event at 9 a.m. EST (1400 GMT).
In South Korea, industrial production is forecast to show a 0.7 percent drop on the month in January after slumping 2.9 percent in December amid slowing global demand.
The unemployment rate in Germany is forecast to rise 1 tenth to 5.6 percent in February while inflationary pressures remain high, with the annual CPI rate for February is seen unchanged at 8.7 percent, although the monthly rise is expected to ease slightly to 0.7 percent from 1.0 percent in January.
In Switzerland, retail sales are seen down 2.2 percent on the year after a 2.8 percent fall in December.
The SVME purchasing managers index for manufacturers is expected to move back above 50 but at 50.4 for February, which would indicate only sluggish growth, versus 49.3 in January.
No revisions are expected to the initial February manufacturing PMI readings for France (47.9), Germany (46.5), the Eurozone (48.5) or the UK (49.2).
In the US, the final manufacturing PMI for February is expected to come in at 47.8, unchanged from the mid-month flash to indicate tangible contraction.
The Institute for Supply Management (ISM) manufacturing index has been gradually deteriorating, but February's consensus is 48.0, up from January's 47.4. The ISM January data showed US manufacturing activity was in contraction territory for the third straight month on lower new orders and production as sellers and buyers remained deadlocked over lead times and pricing, but firms kept headcounts for an expected pickup in the second half of 2023.
After falling 0.4 percent in December, construction spending for January is expected to rise 0.2 percent on the month. December saw the first decline for nonresidential spending in seven months and the seventh straight decline for residential spending.
Minneapolis Federal Reserve Bank President Neel Kashkari will participate in a conversation before a Sioux Falls.Business CEO event at 9 a.m. EST (1400 GMT).
In South Korea, industrial production is forecast to show a 0.7 percent drop on the month in January after slumping 2.9 percent in December amid slowing global demand.
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.
