Highlights
Among UK data, public sector finances for November are forecast to show overall net borrowing (PSNB) declined to £12.0 billion and to £12.9 billion excluding public sector banks.
In the distributive trades data compiled by the Confederation of British Industry (CBI), the headline sales balance is expected to improve marginally to minus 9 percent in December from minus 11 percent in November.
The French INSEE business climate indicator is expected to edge a notch lower to 98 at year-end.
In the US, the third estimate of third-quarter GDP is expected to remain unrevised at 5.2 percent growth. Personal consumption expenditures, at consensus growth of 3.6 percent, is also expected to remain unrevised.
New jobless claims for the December 16 week are expected to come in at 210,000, up from 202,000 in the prior week.
The Philadelphia Fed manufacturing index in December is expected to improve marginally to minus 3.0 versus minus 5.9 in a November report that showed little growth in new orders and a sharp fall in shipments tied to a scarcity of backlogs.
Down by 0.8 percent in October, the index of leading economic indicators in November is expected to extend its long streak of decline, down a consensus 0.4 percent. This index has long been signaling a coming recession.
Canadian retail sales are expected to rise 0.8 percent on the month in October (the same as StatCan's flash estimate), backed by improved supply of automobiles, following a better-than-expected 0.6 percent rise in September. That would indicate some resilience in consumption despite high borrowing costs and easing but still sticky inflation. The focus is on the preliminary estimate for November to see spending patterns going into the holiday shopping season.
Consumer inflation in Japan is forecast to have eased in November in all three key measures as markups in processed food had peaked and hotel fees rose in reaction to a subsidized drop a year earlier, after the total and core readings picked up in October, when halved subsidies for electricity and natural gas utilities slowed the sharp drop in energy costs.
The core measure (excluding fresh food) is seen up 2.5 percent on year after rising to 2.9 percent in October from 2.8 percent in September. The year-over-year increase in the total CPI is also expected to have slowed to 2.8 percent after jumping to 3.3 percent in October from 3.0 percent in September. Underlying inflation measured by the core-core CPI (excluding fresh food and energy) is forecast at 3.8 percent, down further from 4.0 percent in October, 4.2 percent in September and a 42-year high of 4.3 percent recorded in August, July and May.
In the distributive trades data compiled by the Confederation of British Industry (CBI), the headline sales balance is expected to improve marginally to minus 9 percent in December from minus 11 percent in November.
The French INSEE business climate indicator is expected to edge a notch lower to 98 at year-end.
In the US, the third estimate of third-quarter GDP is expected to remain unrevised at 5.2 percent growth. Personal consumption expenditures, at consensus growth of 3.6 percent, is also expected to remain unrevised.
New jobless claims for the December 16 week are expected to come in at 210,000, up from 202,000 in the prior week.
The Philadelphia Fed manufacturing index in December is expected to improve marginally to minus 3.0 versus minus 5.9 in a November report that showed little growth in new orders and a sharp fall in shipments tied to a scarcity of backlogs.
Down by 0.8 percent in October, the index of leading economic indicators in November is expected to extend its long streak of decline, down a consensus 0.4 percent. This index has long been signaling a coming recession.
Canadian retail sales are expected to rise 0.8 percent on the month in October (the same as StatCan's flash estimate), backed by improved supply of automobiles, following a better-than-expected 0.6 percent rise in September. That would indicate some resilience in consumption despite high borrowing costs and easing but still sticky inflation. The focus is on the preliminary estimate for November to see spending patterns going into the holiday shopping season.
Consumer inflation in Japan is forecast to have eased in November in all three key measures as markups in processed food had peaked and hotel fees rose in reaction to a subsidized drop a year earlier, after the total and core readings picked up in October, when halved subsidies for electricity and natural gas utilities slowed the sharp drop in energy costs.
The core measure (excluding fresh food) is seen up 2.5 percent on year after rising to 2.9 percent in October from 2.8 percent in September. The year-over-year increase in the total CPI is also expected to have slowed to 2.8 percent after jumping to 3.3 percent in October from 3.0 percent in September. Underlying inflation measured by the core-core CPI (excluding fresh food and energy) is forecast at 3.8 percent, down further from 4.0 percent in October, 4.2 percent in September and a 42-year high of 4.3 percent recorded in August, July and May.
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.
