Highlights
In France, no revisions are expected to the November CPI data, leaving a 0.2 percent monthly fall and a 3.4 percent annual inflation rate, down from October's final 4.0 percent.
Italy's CPI data is also expected to show no revisions, leaving a 0.4 percent monthly fall and a 0.8 percent annual inflation rate, down from October's final 1.7 percent.
Continued deep contraction is expected for France's manufacturing purchasing managers' index (PMI), which is seen at 43.2 in December, up slightly from 42.9 in November. The services sector PMI is forecast at 46.0, up from 45.4. The key composite output is expected to edge up to a still soft 44.9.
In German PMI data, manufacturing has been in long and deep contraction, at 42.6 in November; only modest improvement is expected for December where the consensus is 43.3. The services index, at 49.6 in November, is forecast at 49.9. Consensus for December's composite index is 48.0, up slightly from November's 47.8.
The Eurozone's PMI data is expected to show manufacturing rose slightly to 44.5 in December from November's 44.2, with the services index expected at 49.0, also up from 48.7. The key composite output index is expected to edge up to 48.0.
In the UK, the services PMI for December is forecast at 51.1, up further from 50.9 in November, when it rose 1.4 points to emerge from three months of contraction. The manufacturing PMI is seen at 47.5, up from November's 47.2, which was better than expected and up from October's 44.8. The composite index is expected to rise to 51.0 from 50.7 the previous month.
Among US data, the New York Fed's Empire State manufacturing index is expected to slow to 3.7 in December after November's nearly 14-point rise to 9.1 in a report, however, where both new orders and backlogs continued to contract.
Industrial production is expected to increase 0.3 percent on the month in November after a weaker-than-expected 0.6 percent fall in October. Capacity utilization is expected to increase to 79.1 percent following October's 78.9 percent rate.
The US PMI data is expected to show the manufacturing sector index will slip to 49.2 in December from 49.4 in November, indicating continued contraction. The services index is seen at 50.6, above the neutral line but down slightly from November's 50.8.
Canadian housing starts are expected to slow to an annual rate of 265,000 units in November from October's higher-than-expected 274,681.
Italy's CPI data is also expected to show no revisions, leaving a 0.4 percent monthly fall and a 0.8 percent annual inflation rate, down from October's final 1.7 percent.
Continued deep contraction is expected for France's manufacturing purchasing managers' index (PMI), which is seen at 43.2 in December, up slightly from 42.9 in November. The services sector PMI is forecast at 46.0, up from 45.4. The key composite output is expected to edge up to a still soft 44.9.
In German PMI data, manufacturing has been in long and deep contraction, at 42.6 in November; only modest improvement is expected for December where the consensus is 43.3. The services index, at 49.6 in November, is forecast at 49.9. Consensus for December's composite index is 48.0, up slightly from November's 47.8.
The Eurozone's PMI data is expected to show manufacturing rose slightly to 44.5 in December from November's 44.2, with the services index expected at 49.0, also up from 48.7. The key composite output index is expected to edge up to 48.0.
In the UK, the services PMI for December is forecast at 51.1, up further from 50.9 in November, when it rose 1.4 points to emerge from three months of contraction. The manufacturing PMI is seen at 47.5, up from November's 47.2, which was better than expected and up from October's 44.8. The composite index is expected to rise to 51.0 from 50.7 the previous month.
Among US data, the New York Fed's Empire State manufacturing index is expected to slow to 3.7 in December after November's nearly 14-point rise to 9.1 in a report, however, where both new orders and backlogs continued to contract.
Industrial production is expected to increase 0.3 percent on the month in November after a weaker-than-expected 0.6 percent fall in October. Capacity utilization is expected to increase to 79.1 percent following October's 78.9 percent rate.
The US PMI data is expected to show the manufacturing sector index will slip to 49.2 in December from 49.4 in November, indicating continued contraction. The services index is seen at 50.6, above the neutral line but down slightly from November's 50.8.
Canadian housing starts are expected to slow to an annual rate of 265,000 units in November from October's higher-than-expected 274,681.
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.
