Week Ahead – GDP data in focus

Next week begins with important data from Germany. The Institute of Economic Research releases the Ifo report. It is a survey of about 7,000 German businesses which asks respondents to rate the relative level of current business conditions and expectations for the next 6 months. From the United States, the flash Services PMI data for November are due by Markit. (This follows from Thursday’s flash manufacturing PMI)

On Tuesday, focus is back on German which will released GDP data for the third quarter, import price numbers and retail sales figures. From the Eurozone, we expect the first estimate of the quarterly balance of payments for the third quarter. In the North American trading session, Canada sees the publication of retail sales numbers. Then the US releases the S&P/Case-Shiller Home Price Index consumer confidence data and an update on third quarter GDP numbers.

More GDP data are released on Wednesday – this time from the United Kingdom, which will publish the second estimate of third quarter GDP. From the US, building permits numbers, durable goods data and initial jobless claims are due.

On Thursday, German unemployment and inflation numbers are due alongside an update on consumer confidence. The US session is expected to be quiet as it is a bank holiday in the US for the Thanksgiving holiday.

On the final day of the trading week, a string of data will come out of Japan – these include inflation and retail sales numbers, unemployment data and industrial output. In the Eurozone, unemployment and inflation data are out. The Eurozone releases the flash CPI estimate and unemployment rate, while Canada releases GDP data.

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