fbpx

Looking At The Economic Week Ahead: Inflation, Exports and Retail Sales

A boatload of economic information is set to release this week.
(Stokete)
(Stokete)
Share on facebook
Share on twitter
Share on linkedin
Share on email

As more data filters out this week, we’ll have more insight into the economy’s performance in 2020, WSJ reports.

Monday:

China’s Consumer Prices:

  • Expected to remain the same from December 2019 to December 2020.
  • Prices dropped in November as increased supply led to a pullback in pork prices.
  • China’s consumer price-index “likely fell 0.8% on year, compared with a 1.5% drop in November, as the price of thermal coal picked up.”

Wednesday:

U.S. Consumer Prices:

  • Expected to have moderately increased in December.
  • Inflation has been mild during the pandemic.
  • Economists expect weak demand for services and some goods to pick up speed later this year.

Thursday:

China’s Exports:

  • Expected to increase 12.8% from a year earlier in December.
  • It’s not as high as November’s 21.1% surge, as increasing U.S. and European Covid-19 cases put pressure on demand for Chinese goods.
  • December import growth likely expanded, giving a stable trade surplus of $72 billion.

Germany’s GDP Estimate:

  • It will be the first large economy to release an official estimate for 2020.
  • It’s likely to be the first contraction since 2009 — roughly the same “magnitude as in the aftermath of the global financial crisis, when GDP fell 5%.”

U.S. Jobless Claims:

  • Expected to remain elevated.
  • More Covid-19 cases and restrictions on businesses creating high levels of layoffs.

Friday:

U.S. Retail Sales:

  • Fell in October and November, indiciating consumer pullback amid a Covid-19 surge, limited fiscal support and disappointing job gains.
  • The report will describe the “severity of the broader economic slowdown at the end of the year.”

U.S. Industrial Production:

  • Expected to increase in December, reflecting another month of gains.
  • Manufacturing has been a positive as companies adapt to the pandemic.
Share on facebook
Share on twitter
Share on linkedin
Share on email

Responses

Your email address will not be published. Required fields are marked *

Related Posts