Key Economic News to Watch This Week: Jan. 3
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A quick preview of the key economic events for the upcoming week:
After a holiday week, trading volume and markets are expected to return to normal. Among the highlights of the week, the latest U.S. employment data is eagerly anticipated for the opening week of 2012.
A quick preview of the key economic events for the upcoming week:
After a holiday week, trading volume and markets are expected to return to normal. Among the highlights of the week, the latest U.S. employment data is eagerly anticipated for the opening week of 2012.
As we begin the New Year, many are expecting Asia to be the world’s engine of growth. Over in Europe, leaders are bracing themselves for a turbulent year ahead. Italy is likely to become the first EU country to enter recession, raising concerns over the fate of the continent and the unified currency – the euro.
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Tuesday, January 3
U.S. Manufacturing Purchasing Managers Index is released. U.S. manufacturing sector strengthened in November rising to 52.8 from 50.8 in October amid new orders. This positive figure suggests a growth trend in the US economy compared to the slowdown in Asia and in Europe. Another increase to 53.3 is foreseen.
Parliamentary election kicks off in Egypt.
Wednesday, January 4
Japan returns to work after the New Year holidays. Osaka Securities Exchange and Tokyo Stock Exchanges holds ceremonies to mark the start of the new trading year.
Thursday, January 5
U.S. unemployment claims is announced: The number of claims rose by 15,000 to 381,000 last week, while economists expected a lower figure of 372,000 claims. Nevertheless this reading is still below the 400,000 line suggesting the U.S. labour market is recovering. A drop to 375,000 is predicted now.
International Monetary Fund chief Christine Lagarde visits South Africa.
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Friday, January 6
U.S. announces non-farm employment change and the unemployment rate. The U.S. job market surprised many when data revealed that it gained 120,000 positions in November, and more surprisingly, the unemployment rate dropped from 9.0 percent to 8.6 percent. All eyes are now awaiting the latest unemployment rate – if anything else, it could prove to be the much needed morale booster for 2012.
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