Eco Week
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Economic calendar of 9 January 2023

01/09/2023
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The week was dominated by the release of the PMI data

In terms of other data releases, the larger than expected decline of headline inflation in the euro area has grabbed the headlines. Core inflation on the other hand increased from 5.0 to 5.2% against a consensus expectation of 5.1%. Retail sales growth in November was stronger than anticipated. The economic confidence index of the European Commission improved further in December, thereby beating expectations of a smaller increase. The improvement of services’ sentiment was particularly strong. In Japan, consumer confidence improved. In the US, the ISM manufacturing index declined slightly, in line with expectations but the services ISM showed a big, unexpected drop. Initial unemployment claims dropped, against expectations. The labour market report showed a slower pace of job creation but the number was better than expected and remains strong. The unemployment rate recorded an unexpected decline despite an increase in the labour force participation rate. The monthly growth of average hourly earnings slowed down more than expected.

Latest indicators (Bloomberg)

A rather light week in terms of data is coming ahead

A rather light week in terms of data with as highlight the inflation numbers in the US. China will publish producer and consumer price data as well as data on international trade. In the euro area the unemployment rate will be released and the ECB will publish its economic bulletin. The Eco Watchers’ survey will be published in Japan and in the US Universty of Michigan sentiment.


Coming indicators

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