Key Economic News To Watch This Week
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A quick preview of the key economic events for the upcoming week:
Monday, 17 October
UN under secretary general for humanitarian affairs visits North Korea.
U.S. Industrial Production data released, the main gauge of industrial activity measuring the output of factories, mines and utilities.
Tuesday, 18 October
Ukrainian-Russian inter-regional economic forum held in Ukraine.
A quick preview of the key economic events for the upcoming week:
Monday, 17 October
UN under secretary general for humanitarian affairs visits North Korea.
U.S. Industrial Production data released, the main gauge of industrial activity measuring the output of factories, mines and utilities.
Tuesday, 18 October
Ukrainian-Russian inter-regional economic forum held in Ukraine.
Related: Yulia Tymoshenko jailed for 7 years, says Ukraine trial ‘like Stalin’s Soviet Union’
China GDP, the main measure of economic activity and growth, figures released.
As a result of the global slump, the world’s second largest economy China is expected to slow, although not significantly, to 9.2 percent from 9.5 percent in Q2 2011.
U.K. Consumer Price Index figures released, the main measure of inflation preferred by the Bank of England.
Inflationary pressures in the U.K. are forecast to stay stubbornly high and even spike up to 4.9 percent in September, compared with 4.5 percent in August. Even though it might be a long shot, the British pound could attract some bids on expectations that, in light of rising inflation, the Bank of England could decide to limit the size of the recently-announced additional asset purchases.
Eurozone ZEW Economic Sentiment Index, a leading indicator of economic conditions and business expectations releases sentiment index.
The ZEW institute’s survey is expected to deliver another indicator of the deteriorating economic conditions in the eurozone with the economic sentiment index forecast to register a larger -45.0 decline in October, compared with -43.3 in August.
Wednesday, 19 October
The Indian Supreme Court will hear the plea of three assassins of former Indian Prime Minister Rajiv Gandhi after their death sentences were recently stayed by the Madras High Court.
U.S. Housing Starts, a leading indicator of housing market activity measuring construction of new residential properties, and U.S. Consumer Price Index, the main measure of inflation data released.
Still not large enough of an increase to cause the Fed to reconsider its promise to keep rates “exceptionally low through 2013”, the core consumer price index, which excludes food and energy costs, is expected to rise to 2.1% in September from 2.0% in August.
Friday, 21 October
World Economic Forum held in Jordan to discuss economic growth and job creation.
Germany IFO Institute Business Climate and Expectations Index, a leading indicator of economic conditions and business expectations in the Euro-zone’s largest economy, releases its October findings.
In the aftermath of the anticipated drop in the ZEW economic sentiment index, the German IFO index is forecast to follow suit with a reading of 106.5 in October from 107.5 in the previous month.
Related: EconomyWatch Consumer Confidence Index
Sunday, 23 October
EU Summit of leaders of the 27 countries in the European Union.
Without a doubt, the main event of the trading week, the EU Summit is when the markets around the world expect to see the promised “comprehensive strategy on the euro-area sovereign debt crisis”. The summit was postponed because EU leaders needed more time to finalize their new plans on how to prevent further contagion, recapitalize banks, and conclude discussions on the next bailout installment for Greece.
Related: Europe given till end of week to fix its crisis or else…
