Weekly Reports | Nov 26 2010
By Greg Peel
This week thankfully sees the end of the Australian AGM season, with a late thrust today and on Monday before only a couple of laggards meet in December. But it is a big week for Australia because Wednesday sees the release of September quarter GDP.
This week's data have led to forecast downgrades from economists and yesterday ANZ dropped its growth expectation to 0.0% with a warning the result may even be negative. There may yet be further adjustments following today's third quarter corporate profit and inventory data.
Tuesday also sees the third quarter current account, which includes the trade balance, along with monthly building approvals, private sector credit and the RP Data house price index.
Wednesday is global manufacturing PMI day for November, with all of Australia, China, the UK, EU and US reporting results, while Thursday sees Australian retail sales and Friday the same again for global service sector PMIs.
It's a busy week in the US beginning on Monday when tonight's Black Friday sales results will be made clear. Thereafter the week will bring the Case-Shiller house price index, consumer confidence, the Chicago PMI, construction spending, productivity, vehicle sales, same store sales, pending home sales, factory orders and the aforementioned sector PMIs. Friday is jobs day, following the private sector report on the Wednesday.
The EU will revise its third quarter GDP on Thursday and the ECB will announce its latest monetary policy update.
Next week will also likely bring news of details the bail-out plan to be adopted in Ireland but not before the Irish people take to the streets in anger on the weekend. The Poms will also be rallying on the weekend to protest Peter Siddle's hatrick.
For a more comprehensive preview of next week's events, please refer to "The Monday Report", published each Monday morning. For all economic data release dates, ex-div dates and times and other relevant information, please refer to the FNArena Calendar.
