Highlights
In the Eurozone, the GDP is forecast to have risen 0.4% on quarter and up 0.9% on year.
The region's industrial production is seen falling back by 1.3% on the month and down 1.4% on the year in October. In September, output surged by 1.8% on the month and rose by a modest 0.1% on the year.
Among U.S. data, new jobless claims are expected to edge up to 225,000 from 221,000 the previous week, suggesting no big change in labor market conditions and not far off the prior week's four-week moving average of 227,250.
Expectations for PPI call for a 0.2% rise on the month and a 2.3% increase on year. For PPI excluding food and energy, the consensus looks for a 0.3% increase on the month.
Federal Reserve Board Governor Adriana Kugler will speak on"Central Bank Independence and Economic Outlook" before the Latin American and Caribbean Economic Association (LACEA) and the Latin American Chapter of the Econometric Society 2024 Meeting at 7 a.m. EST (1200 GMT).
Richmond Federal Reserve Bank President Thomas Barkin to speak on the economy in fireside chat before the Real Estate Roundtable at 9 a.m. EST (1400 GMT).
Federal Reserve Chairman Jerome Powell will participate in a"Global Perspectives" conversation before an event hosted by the Dallas Regional Chamber, World Affairs Council of DFW and the Federal Reserve Bank of Dallas at 3 p.m. EST (2000 GMT).
New York Federal Reserve Bank President John Williams will give a keynote speech before the"Intermediating Impact: Making Missing Markets" event hosted by the Federal Reserve Bank of New York at 4:15 p.m. EST (2115 GMT).
Japan's gross domestic product for the July-September quarter is forecast to post a sharp slowdown, up just 0.2% on quarter, or an annualized 0.6%, as consumers remained frugal amid high costs for necessities that were aggravated by a rare, acute rice supply shortage and business investment is believed to have declined.
The expected sluggish growth follows a strong 0.7% rebound (annualized 2.9%) in the April-June quarter, which was led by private consumption, which accounts for about 55% of the GDP, and solid corporate capital investment. In the January-March quarter, the economy slumped 0.6% (annualized 2.4%) for the first contraction in two quarters, hit by suspended output at Toyota group factories over a safety test scandal that had a widespread impact beyond the auto industry.
Domestic demand is expected to add a slight 0.1%age point to total domestic output in Q3 after boosting the Q2 GDP by 0.8 point while external demand (exports minus imports) is also seen lackluster, adding just 0.1 point for the first rise in three quarters after trimming Q2 GDP by 0.1 point.
Looking ahead, the economy in October-December is expected to show only modest growth as many households are struggling to make ends meet amid high costs for food and fuels even though large firms are raising wages to cope with widespread labor shortages. Firms may increase investment in capacity in Q4 compared to Q3.
In China, October fixed asset investment is up 3.5% in the year to date from a year ago, little changed from the 3.4% increase in September, as investors remain reluctant.
Chinese industrial production is expected up 5.5% on year in October versus September's 5.4%.
Growth in consumer spending remains depressed by Chinese standards, amid the prolonged real estate slump. Retail sales are expected up 3.8% on year in October after rising 3.2% in September.
The region's industrial production is seen falling back by 1.3% on the month and down 1.4% on the year in October. In September, output surged by 1.8% on the month and rose by a modest 0.1% on the year.
Among U.S. data, new jobless claims are expected to edge up to 225,000 from 221,000 the previous week, suggesting no big change in labor market conditions and not far off the prior week's four-week moving average of 227,250.
Expectations for PPI call for a 0.2% rise on the month and a 2.3% increase on year. For PPI excluding food and energy, the consensus looks for a 0.3% increase on the month.
Federal Reserve Board Governor Adriana Kugler will speak on"Central Bank Independence and Economic Outlook" before the Latin American and Caribbean Economic Association (LACEA) and the Latin American Chapter of the Econometric Society 2024 Meeting at 7 a.m. EST (1200 GMT).
Richmond Federal Reserve Bank President Thomas Barkin to speak on the economy in fireside chat before the Real Estate Roundtable at 9 a.m. EST (1400 GMT).
Federal Reserve Chairman Jerome Powell will participate in a"Global Perspectives" conversation before an event hosted by the Dallas Regional Chamber, World Affairs Council of DFW and the Federal Reserve Bank of Dallas at 3 p.m. EST (2000 GMT).
New York Federal Reserve Bank President John Williams will give a keynote speech before the"Intermediating Impact: Making Missing Markets" event hosted by the Federal Reserve Bank of New York at 4:15 p.m. EST (2115 GMT).
Japan's gross domestic product for the July-September quarter is forecast to post a sharp slowdown, up just 0.2% on quarter, or an annualized 0.6%, as consumers remained frugal amid high costs for necessities that were aggravated by a rare, acute rice supply shortage and business investment is believed to have declined.
The expected sluggish growth follows a strong 0.7% rebound (annualized 2.9%) in the April-June quarter, which was led by private consumption, which accounts for about 55% of the GDP, and solid corporate capital investment. In the January-March quarter, the economy slumped 0.6% (annualized 2.4%) for the first contraction in two quarters, hit by suspended output at Toyota group factories over a safety test scandal that had a widespread impact beyond the auto industry.
Domestic demand is expected to add a slight 0.1%age point to total domestic output in Q3 after boosting the Q2 GDP by 0.8 point while external demand (exports minus imports) is also seen lackluster, adding just 0.1 point for the first rise in three quarters after trimming Q2 GDP by 0.1 point.
Looking ahead, the economy in October-December is expected to show only modest growth as many households are struggling to make ends meet amid high costs for food and fuels even though large firms are raising wages to cope with widespread labor shortages. Firms may increase investment in capacity in Q4 compared to Q3.
In China, October fixed asset investment is up 3.5% in the year to date from a year ago, little changed from the 3.4% increase in September, as investors remain reluctant.
Chinese industrial production is expected up 5.5% on year in October versus September's 5.4%.
Growth in consumer spending remains depressed by Chinese standards, amid the prolonged real estate slump. Retail sales are expected up 3.8% on year in October after rising 3.2% in September.
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.
