Highlights
UK retail sales are forecast to post a 0.3% drop on the month in October, giving up all of the gain seen the previous month. From a year earlier, sales are seen up 3.2%, slowing from the 3.9% increase.
In the German third quarter GDP data, no revision is expected to the 0.2% rise on the quarter and the 0.2% fall on year.
In the French PMI data, expectations call for a very contractionary 44.6 for the manufacturing flash and 49.0 for services. The overall output PMI is seen flat at 48.1.
In Germany, the consensus looks for the composite flash at 48.6, manufacturing flash at a very weak 43.0, and services flash still showing expansion at 51.
In the Eurozone, forecasters look for the composite flash at 50.2, the manufacturing flash at 46.0 and 51.7 for services.
For the UK PMI, the consensus looks for the composite flash at 51.8, manufacturing flash at a neutral 50.0, and services flash still showing expansion at 52.1.
In Canada, retail sales are forecast to have risen 0.4% on the month in September after growing at the same rate the previous month.
Among U.S. data, the consensus looks for PMI manufacturing flash at 48.8 and services at 55.1.
In the University of Michigan's consumer sentiment survey, the index came in stronger than expected in the November flash with the survey sample taken before the presidential election result. Oddly, forecasts call for no change in the final November report with the survey following November 5. Estimates center on a 73.0 reading for sentiment, unchanged from the flash, and up from 70.5 in October and 61.3 in November 2023. Inflation expectations are expected at 2.6% versus 2.6% in the November flash and 2.7% in October final.
Federal Reserve Board Governor Michelle Bowman will speak on artificial intelligence before the 27th Annual Symposium on Building the Financial System of the 21st Century at 6:15 p.m. EST (2315 GMT).
In the German third quarter GDP data, no revision is expected to the 0.2% rise on the quarter and the 0.2% fall on year.
In the French PMI data, expectations call for a very contractionary 44.6 for the manufacturing flash and 49.0 for services. The overall output PMI is seen flat at 48.1.
In Germany, the consensus looks for the composite flash at 48.6, manufacturing flash at a very weak 43.0, and services flash still showing expansion at 51.
In the Eurozone, forecasters look for the composite flash at 50.2, the manufacturing flash at 46.0 and 51.7 for services.
For the UK PMI, the consensus looks for the composite flash at 51.8, manufacturing flash at a neutral 50.0, and services flash still showing expansion at 52.1.
In Canada, retail sales are forecast to have risen 0.4% on the month in September after growing at the same rate the previous month.
Among U.S. data, the consensus looks for PMI manufacturing flash at 48.8 and services at 55.1.
In the University of Michigan's consumer sentiment survey, the index came in stronger than expected in the November flash with the survey sample taken before the presidential election result. Oddly, forecasts call for no change in the final November report with the survey following November 5. Estimates center on a 73.0 reading for sentiment, unchanged from the flash, and up from 70.5 in October and 61.3 in November 2023. Inflation expectations are expected at 2.6% versus 2.6% in the November flash and 2.7% in October final.
Federal Reserve Board Governor Michelle Bowman will speak on artificial intelligence before the 27th Annual Symposium on Building the Financial System of the 21st Century at 6:15 p.m. EST (2315 GMT).
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.
