Eco Week
Calendars

Economic calendars

01/30/2023

In the Eurozone, consumer confidence and the flash PMIs in manufacturing and services improved slightly in January. Business confidence was stable in France but the manufacturing PMI jumped, moving above 50.

The services PMI hardly moved. The total number of jobseekers declined in the fourth quarter of 2022. In Germany, consumer confidence improved, the manufacturing PMI was stable but the services PMI recorded an improvement. The IFO business climate also improved on the back of the expectations component. In Japan, the manufacturing PMI was flat but services did better.

In the UK, the manufacturing PMI improved but it dropped in services. CBI business optimism did a lot better in January than before.

In the US, the services PMI jumped, thereby creating a positive surprise. Fourth quarter GDP growth was better than expected but below the third quarter number. Initial jobless claims were far lower than predicted by the consensus. Capital goods orders were down, as expected, but new home sales growth, although slowing down, did surprise positively. The index of leading indicators continued its downward trend and declined more than expected. According to the University of Michigan’s final survey, short and long term inflation expectations improved, which increases consumer confidence in the current economic situation. PCE inflation continues to slow down to 5% y/y in December (versus 5.5% in November).

Latest indicators

An incredibly busy week with as highlights the monetary policy meetings of the Federal Reserve, the Bank of England and the ECB, whereby the press conferences will be as important as the decisions.

A heavy load of data will be published: first quarter GDP in the Eurozone, France and Germany, the US labour market report, Eurozone inflation, the European Commission's survey data, manufacturing and services PMIs in many countries. In the US we will also have the ISM surveys in manufacturing and services and the Conference Board consumer confidence data.

Coming indicators
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