Capital Spending YoY

Capital Spending in Japan refers to a year-on-year change in capital investments of private profit-making corporations with capital of 10 million yen or over. The survey includes all industries except finance and insurance.

Unemployment Rate

In Japan, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Jobs/applications ratio

The series refers to the ratio of active job openings to applicants is a rate of the number of job offers (sum of the carried forward ones from the previous month and new ones) to the number of job seekers registered at public employment security offices ("Hello Work") all over the country. It indicates the number of job offers per one job seeker. The ratio is obtained by dividing monthly active job openings by monthly active applications.

CoreLogic Dwelling Prices MoM

0.9%

In Australia, the CoreLogic Home Value Index aims to measure month to month movements in the value of Australian housing markets. Rather than relying solely on transacted sale prices to provide a measure of housing market conditions, the CoreLogic Home Value Index is based on a ‘hedonic’ methodology which includes the attributes of properties that are transacting as part of the analysis. The Home Values Index provides monthly capital growth measurements across three broad housing types: detached houses, units and a combined dwellings index that includes both houses and units. The Index results are released on the last working day of each month and are available on a subscription basis.

Judo Bank Manufacturing PMI Final

48.2

The Judo Bank Australia Manufacturing PMI is compiled by S&P Global from responses to monthly questionnaires sent to purchasing managers in a panel of around 400 manufacturers. The headline figure is the Purchasing Managers’ Index (PMI), which is a weighted average of the following five indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%). For the PMI calculation the Suppliers’ Delivery Times Index is inverted so that it moves in a comparable direction to the other indices. The index varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.

ANZ Roy Morgan Consumer Confidence

In New Zealand, ANZ Roy Morgan Consumer Confidence is a monthly measure of consumer confidence across New Zealand households and how this affects their spending behavior.

Fiscal Balance

-645300000000

In Mexico, the public budget includes, not only government expenses and revenues, but also financial balance of entities under indirect budgetary control, and external and internal financing requirement.

M2 Money Supply YoY

20.6%

Russia Money Supply M2 includes M1 plus short-term time deposits in banks.

15-Year Mortgage Rate

30-Year Mortgage Rate

The Primary Mortgage Market Survey (PMMS) is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. The interest rate a lender would charge to lend mortgage money to a qualified borrower exclusive of the fees and points required by the lender. This commitment rate applies only to conventional financing on conforming mortgages with loan-to-value rates of 80 percent or less.

8-Week Bill Auction

4-Week Bill Auction

BoE Greene Speech

In the United Kingdom, benchmark interest rate is set by the Monetary Policy Committee (MPC). The Bank of England official interest rate is the repo rate. This repo rate applies to open market operations of the Bank of England with a group of counterparties (banks, building societies, securities firms).

ECB af Jochnick Speech

In the Euro Area, benchmark interest rate is set by the Governing Council of the European Central Bank. The primary objective of the ECB’s monetary policy is to maintain price stability which is to keep inflation below, but close to 2 percent over the medium term. In times of prolonged low inflation and low interest rates, ECB may also adopt non-standard monetary policy measures, such as asset purchase programmes. The official interest rate is the Main refinancing operations rate.

EIA Natural Gas Stocks Change

Natural Gas Stocks Change refers to the weekly change of the natural gas supply situation.

Pending Home Sales MoM

1.1%

The Pending Home Sales Index, a leading indicator of housing activity, measures housing contract activity, and is based on signed real estate contracts for existing single-family homes, condos and co-ops. When a seller accepts a sales contract on a property, it is recorded into a Multiple Listing Service (MLS) as a "pending home sale." The majority of pending home sales become home sale transactions, typically one to two months later. The National Association of Realtors collects pending home sales data from MLSs and large brokers. Altogether, data from over 100 MLSs & 60 large brokers is received providing a large sample size covering 50% of the existing home sales sample. This is equal to 20 percent of all transactions.

Pending Home Sales YoY

-11%

The Pending Home Sales Index, a leading indicator of housing activity, measures housing contract activity, and is based on signed real estate contracts for existing single-family homes, condos and co-ops. When a seller accepts a sales contract on a property, it is recorded into a Multiple Listing Service (MLS) as a "pending home sale." The majority of pending home sales become home sale transactions, typically one to two months later. The National Association of Realtors collects pending home sales data from MLSs and large brokers. Altogether, data from over 100 MLSs & 60 large brokers is received providing a large sample size covering 50% of the existing home sales sample. This is equal to 20 percent of all transactions.

Chicago PMI

44

The Chicago PMI (ISM-Chicago Business Barometer) measures the performance of the manufacturing and non-manufacturing sector in the Chicago region. The Index is computed from five weighted raw indexes: Production (0.25), New Orders (0.35), Order Backlog (0.15), Employment (0.10), and Supplier Deliveries (0.15) and then seasonally adjusted to support month-to-month comparisons. A reading above 50 indicates an expansion; below 50 represents a contraction; while 50 indicates no change. Chicago PMI is released one day before the ISM Manufacturing Index.

ECB McCaul Speech

In the Euro Area, benchmark interest rate is set by the Governing Council of the European Central Bank. The primary objective of the ECB’s monetary policy is to maintain price stability which is to keep inflation below, but close to 2 percent over the medium term. In times of prolonged low inflation and low interest rates, ECB may also adopt non-standard monetary policy measures, such as asset purchase programmes. The official interest rate is the Main refinancing operations rate.

ECB Enria Speech

In the Euro Area, benchmark interest rate is set by the Governing Council of the European Central Bank. The primary objective of the ECB’s monetary policy is to maintain price stability which is to keep inflation below, but close to 2 percent over the medium term. In times of prolonged low inflation and low interest rates, ECB may also adopt non-standard monetary policy measures, such as asset purchase programmes. The official interest rate is the Main refinancing operations rate.

GDP Growth Rate QoQ

0%

Canada's economy is diversified and highly developed. Foreign trade is responsible for about 45 percent of the nation's GDP and the United States is by far the largest trade partner. On the expenditure side, household consumption is the main component of GDP and accounts for 58 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (19 percent). Exports of goods and services account for 32 percent of GDP while imports account for 33 percent, subtracting 1 percent of total GDP. Non-profit institutions serving households' final consumption expenditure and investment in inventories account for the remaining 2 percent.

GDP Growth Rate Annualized

-0.2%

GDP Annualized Growth Rate shows the gdp growth that would be registered if the quarter-on-quarter rate of change were maintained for a full year. On the expenditure side, household consumption is the main component of GDP and accounts for 58 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (19 percent). Exports of goods and services account for 32 percent of GDP while imports account for 33 percent, subtracting 1 percent of total GDP. Non-profit institutions serving households' final consumption expenditure and investment in inventories account for the remaining 2 percent.

ECB President Lagarde Speech

In the Euro Area, benchmark interest rate is set by the Governing Council of the European Central Bank. The primary objective of the ECB’s monetary policy is to maintain price stability which is to keep inflation below, but close to 2 percent over the medium term. In times of prolonged low inflation and low interest rates, ECB may also adopt non-standard monetary policy measures, such as asset purchase programmes. The official interest rate is the Main refinancing operations rate.

GDP MoM

0%

In Canada, Monthly GDP MoM measures the change in the value of the goods and services produced by the country's economy compared to the previous month.

GDP MoM Prel

0%

In Canada, Monthly GDP MoM measures the change in the value of the goods and services produced by the country's economy compared to the previous month.

GDP Implicit Price QoQ

0.7%

In Canada, implicit price indexes are a byproduct of the deflation procedure, obtained by dividing an expenditure series expressed at current prices by the corresponding series expressed at constant prices. For all volume aggregates published in the Economic and Financial Accounts, the implicit price indexes are the chain Fisher price indexes.

Initial Jobless Claims

Initial jobless claims have a big impact in financial markets because unlike continued claims data which measures the number of persons claiming unemployment benefits, Initial jobless claims measures new and emerging unemployment.

Core PCE Price Index MoM

0.3%

Core PCE Price Index YoY

3.7%

In the United States, the Core Personal Consumption Expenditure Price Index provides a measure of the prices paid by people for domestic purchases of goods and services, excluding the prices of food and energy. The core PCE is the Fed's preferred inflation measure. The central bank has a 2 percent target.

Personal Spending MoM

0.7%

Personal consumption expenditures (PCE) is the primary measure of consumer spending on goods and services in the U.S. economy. 1 It accounts for about two-thirds of domestic final spending, and thus it is the primary engine that drives future economic growth. PCE shows how much of the income earned by households is being spent on current consumption as opposed to how much is being saved for future consumption. PCE also provides a comprehensive measure of types of goods and services that are purchased by households. Thus, for example, it shows the portion of spending that is accounted for by discretionary items, such as motor vehicles, or the adjustments that consumers make to changes in prices, such as a sharp run-up in gasoline prices.

Personal Income MoM

Personal Income refers to the income that persons receive in return for their provision of labor, land, and capital used in current production, plus current transfer receipts less contributions for government social insurance.

PCE Price Index MoM

0.4%

In the United States, the Personal Consumption Expenditure Price Index provides a measure of the prices paid for domestic purchases of goods and services. While the Consumer Price Index assumes a fixed basket of goods and uses expenditure weights that do not change over time for several years, the Personal Consumption Expenditure Price Index uses a chain index and resorts on expenditure data from the current period and the preceding period (known as Fisher Price Index).

PCE Price Index YoY

3.4%

In the United States, the Personal Consumption Expenditure Price Index provides a measure of the prices paid for domestic purchases of goods and services. While the Consumer Price Index assumes a fixed basket of goods and uses expenditure weights that do not change over time for several years, the Personal Consumption Expenditure Price Index uses a chain index and resorts on expenditure data from the current period and the preceding period (known as Fisher Price Index).

Jobless Claims 4-week Average

Continuing Jobless Claims

Continuing Jobless Claims refer to actual number of unemployed and currently receiving unemployment benefits who filed for unemployment benefits at least two weeks ago.

Net Payrolls

211764

In Brazil, net payrolls refer to the change in total formal employment, that is, the difference between admitted and dismissed.

Unemployment Rate

7.7%

In Brazil, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

GDP Growth Rate YoY

7.8%

The most important and the fastest growing sector of Indian economy are services. Trade, hotels, transport and communication; financing, insurance, real estate and business services and community, social and personal services account for more than 60 percent of GDP. Agriculture, forestry and fishing constitute around 12 percent of the output, but employs more than 50 percent of the labor force. Manufacturing accounts for 15 percent of GDP, construction for another 8 percent and mining, quarrying, electricity, gas and water supply for the remaining 5 percent.

Infrastructure Output YoY

8.1%

In India, infrastructure output refers to a combined index that measures the performance of Eight Core Industries: refinery production (weight: 28%), electricity generation (19.9%), steel production (17.9%), coal production (10.3%), crude oil production (8.9%), natural gas production (6.9%), cement production (5.4%) and fertilizers production (2.6%). Infrastructure accounts for nearly 40 percent of India's industrial output.

Unemployment Rate

2.9%

In Mexico, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Balance of Trade

13140000000

In 2021, South Africa recorded a trade surplus for the fifth consecutive year. The top exports of South Africa are mineral products; base metals and articles of base metal; vehicles and aircraft vessels and machinery (6.8 percent), shipped primarily to China, the United States and Germany. The top imports of South Africa are machinery, mineral products, chemicals and vehicles & transport equipment, sourced mainly from China, India and the United States.

Foreign Exchange Reserves

In Turkey, Foreign Exchange Reserves refer to gross foreign exchange reserves held or controlled by the country's central bank, excluding gold.

Unemployment Rate

4.8%

In Ireland, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

PPI YoY

2.2%

Producer prices change refers to year over year change in price of goods and services sold by manufacturers and producers in the wholesale market during a given period.

Retail Sales YoY

1.2%

In Portugal, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

Retail Sales MoM

-0.3%

In Portugal, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Portugal, Retail sales are seasonal, volatile and relatively important to the overall economy.

GDP Growth Rate YoY Final

2.3%

On the expenditure side, household consumption is the main component of GDP and accounts for 66 percent of its total use, followed by government expenditure (19 percent) and gross fixed capital formation (15 percent). Exports of goods and services account for 40 percent of GDP and imports account for 40 percent.

GDP Growth Rate QoQ Final

0%

On the expenditure side, household consumption is the main component of GDP and accounts for 66 percent of its total use, followed by government expenditure (19 percent) and gross fixed capital formation (15 percent). Exports of goods and services account for 40 percent of GDP and imports account for 40 percent.

MPC Meeting Summary

In Turkey, benchmark interest rates are set by the Central Bank of the Republic of Turkey Monetary Policy Committee (Türkiye Cumhuriyet Merkez Bankasi - TCMB). From June 1st 2018, the main interest rate is the one-week repo rate and the overnight borrowing and lending rates will be determined at 150 bps below/above the one-week repo rate. The central bank simplified its monetary policy framework on May 28th 2018 from a different system with four main key rates, with the late liquidity window lending rate being one of the most followed.

Government Budget Value

-7018600000000

The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues. In India, government budget value refers to the cumulative amount of the central government fiscal deficit for current fiscal year.

Unemployment Rate

10%

In Greece, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

GDP Growth Rate YoY Final

1.3%

In Belgium, household consumption is the main component of GDP and accounts for 52 percent of its total use, followed by government expenditure (25 percent) and gross fixed capital formation (23 percent). Exports of goods and services account for 84 percent of GDP while imports account for 83 percent, adding 1 percent of total GDP.

GDP Growth Rate QoQ Final

0.3%

In Belgium, household consumption is the main component of GDP and accounts for 52 percent of its total use, followed by government expenditure (25 percent) and gross fixed capital formation (23 percent). Exports of goods and services account for 84 percent of GDP while imports account for 83 percent, adding 1 percent of total GDP.

Unemployment Rate

6.2%

In Cyprus, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Inflation Rate YoY Flash

In Euro Area, the inflation rate is calculated using the weighted average of the Harmonised Index of Consumer Price (HICP) aggregates. The main components of the HICP are: food, alcohol and tobacco (21 percent of the total weight), energy (11 percent), non-energy industrial goods (27 percent) and services (42 percent). The HICP aggregates are computed as the weighted average of each country’s HICP components. The weight of a country is its share of household final monetary consumption expenditure in the total of the country’s group. The local HICPs are supplied to the Eurostat by the National Statistical Institutes.

Core Inflation Rate YoY Flash

In Euro Area, the core inflation rate is calculated using the weighted average of the Harmonised Index of Consumer Price (HICP) aggregates, excluding energy, food, alcohol & tobacco that face volatile price movements.

Inflation Rate MoM Flash

Inflation Rate MoM measures month over month change in the price of goods and services.

Unemployment Rate

6.5%

In Euro Area, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

CPI Flash

Retail Sales YoY

In Greece, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

PPI YoY

-4.3%

In Greece, the Producer Price Index in Industry measures the monthly rates of change in the prices of goods that are produced in the domestic market and are sold in this market or are exported to the non domestic market. It is composed by the sub-indices of the domestic and non-domestic market. The index of the non domestic market is also sub-divided into the two market zone indices: the euro-zone and the non-euro zone index. .

Inflation Rate MoM Prel

-0.2%

In Italy, the most important categories in the Consumer Price Index are: food and non-alcoholic beverages (16 percent of total weight); transport (15 percent); restaurants and hotels (12 percent); housing, water, electricity and other fuels (10 percent); and miscellaneous goods and services (10 percent). The index also includes: health (9 percent); recreation and culture (8 percent); clothing and footwear (7 percent); and furnishing and household equipment (7 percent). Alcoholic beverages, tobacco, communication and education contribute with the remaining 6 percent.

Inflation Rate YoY Prel

In Italy, the most important categories in the Consumer Price Index are: food and non-alcoholic beverages (18 percent of total weight); transport (14 percent); and housing, water, electricity and other fuels (11 percent). The index also includes: miscellaneous goods and services (9 percent); restaurants and hotels (9 percent); health (9 percent); furnishings, household equipment and maintenance (8 percent); recreation and culture (7 percent); and clothing and footwear (6 percent). Alcoholic beverages and tobacco, communication, and education contribute to the remaining 7 percent of total weight.

Harmonised Inflation Rate MoM Prel

Harmonised Inflation Rate YoY Prel

The Harmonised Index of Consumer Prices (HICP) is an indicator of inflation and price stability for the European Central Bank (ECB). The HICP is compiled by Eurostat and the national statistical institutes in accordance with harmonised statistical methods. The ECB aims to maintain annual inflation rates as measured by the HICP below, but close to, 2% over the medium term.

CPI Prel

In Italy, the most important categories in the Consumer Price Index are: food and non-alcoholic beverages (16 percent of total weight); transport (15 percent); restaurants and hotels (12 percent); housing, water, electricity and other fuels (10 percent); and miscellaneous goods and services (10 percent). The index also includes: health (9 percent); recreation and culture (8 percent); clothing and footwear (7 percent); and furnishing and household equipment (7 percent). Alcoholic beverages, tobacco, communication and education contribute with the remaining 6 percent.

PPI YoY

-11.8%

Producer prices change refers to year over year change in price of goods and services sold by manufacturers and producers in the wholesale market during a given period.

Inflation Rate MoM Prel

-0.2%

Inflation Rate MoM measures month over month change in the price of goods and services.

Inflation Rate YoY Prel

2.1%

In Portugal, the inflation rate measures a broad rise or fall in prices that consumers pay for a standard basket of goods. The most important categories in Portuguese Consumer Price Index are: Food & Non-alcoholic Beverages (21% of the total weight), Transport (14%), Miscellaneous Goods & Services (10%) and Housing, Water, Electricity, Gas & Other Fuels (10%). Restaurant & Hotels account for 9%, Recreation & Culture for 7%, and Clothing & Footwear for 7%. The index also includes: Health (6%), and Furnishings, Household Equipment & Routine Maintenance of the House (6%). Alcoholic Beverages & Tobacco, Communication and Education account for remaining 9%.

PPI MoM

1.5%

In South Africa, the Producer Price Inflation MoM measures a month-over-month change in the price of goods and services sold by manufacturers and producers in the wholesale market.

PPI YoY

5.1%

In South Africa, Producer prices change refers to year over year change in price of goods and services sold by manufacturers and producers in the wholesale market during a given period.

M3 Money Supply YoY

8.1%

In Czech Republic, Money Supply M3 is the sum of M2, repurchase agreements, money market fund shares/units and debt securities with a maturity of up to two years.

Current Account

4190000000

Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

Unemployment Rate

7.4%

In Italy, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Inflation Rate MoM Prel

In Poland, the most important categories in the consumer price index are: Food and non-alcoholic beverages (25 percent of the total weight); Housing, water, electricity, gas and other fuels (19 percent); Transport (10 percent); Recreation and Culture (6 percent); Alcoholic beverages and tobacco (6 percent), Restaurants and hotels (6 percent); Furnishings, household equipment, routine household maintenance (6 percent); and Miscellaneous goods and services (6 percent). Health, Clothing and footwear, Communication and Education account for the remaining 15 percent of total weight.

Inflation Rate YoY Prel

In Poland, the most important categories in the consumer price index are: Food and non-alcoholic beverages (24 percent of the total weight); Housing energy/maintenance (21 percent); Transport (9 percent); Recreation and Culture (7 percent). Alcohol and tobacco, Health, Other goods and services, and Clothing account for 6 percent each. Communication, Restaurants and Hotels, Household Equipment and Education account for the remaining 17 percent of total weight.

GDP Growth Rate YoY Final

-0.6%

Poland’s 38-million consumer market is one of the biggest in Europe. Poland's main industries are: food and beverage processing, shipbuilding and the manufacture of machinery, iron and steel products, chemicals, glass and textiles. On the expenditure side, household consumption is the main component of GDP and accounts for 60 percent of its total use, followed by gross fixed capital formation (20 percent) and government expenditure (18 percent). Exports of goods and services account for 47 percent of GDP while imports account for 46 percent, adding 1 percent of total GDP.

GDP Growth Rate QoQ Final

-2.2%

Poland is the 8th biggest economy in the European Union, yet GDP per capita remains significantly below the EU average. The country's industrial base combines coal, textile, chemical, machinery, iron, and steel sectors and has expanded more recently to include fertilizers, petrochemicals, machine tools, electrical machinery, electronics, cars and shipbuilding. On the expenditure side, household consumption is the main component of GDP and accounts for 60 percent of its total use, followed by gross fixed capital formation (20 percent) and government expenditure (18 percent). Exports of goods and services account for 47 percent of GDP while imports account for 46 percent, adding 1 percent of total GDP.

Unemployment Rate

5.8%

In Germany, the unemployment rate measures the registered unemployed as a percentage of the civilian labor force. The registered Unemployed as defined in the statistics collected by the Federal Employment Office and based on the register of persons out of work are all those persons who have reached the age of 15 but not yet the age of 65 who have no job or only a part-time job (at present less than 15 hours a week) and are looking for a job subject to compulsory insurance with a working time of no less than 15 hours a week. They must have registered at the appropriate job center and must not be certified as unfit for work.

Unemployment Change

30000

In German, unemployment change measures the absolut change in the number of unemployed people in the reporting month.

Unemployed Persons

2678000

In Germany, unemployed persons are individuals who are without a job and actively seeking to work.

Retail Sales YoY

10.1%

In Hong Kong, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

PPI YoY

-3.8%

Producer prices change refers to year over year change in price of goods and services sold by manufacturers and producers in the wholesale market during a given period.

PPI MoM

0.4%

In Austria, the Producer Price Inflation MoM measures a month-over-month change in the price of goods and services sold by manufacturers and producers in the wholesale market.

Inflation Rate MoM Prel

Inflation Rate MoM measures month over month change in the price of goods and services.

GDP Growth Rate YoY Final

-1.1%

In Austria, household consumption is the main component of GDP and accounts for 54 percent, followed by gross fixed capital formation (22 percent) and government expenditure (20 percent). Net exports of goods and services adds 3 percent to the GDP as exports accounts for 53 percent and imports for 50 percent.

GDP Growth Rate QoQ Final

-0.8%

Austria's economy features a large service sector (63 percent of total GDP), a solid industrial sector (25 percent), and a small, but highly developed agricultural sector (1 percent). On the expenditure side, household consumption is the main component of GDP and accounts for 54 percent, followed by gross fixed capital formation (22 percent) and government expenditure (20 percent). Net exports of goods and services adds 3 percent to the GDP as exports accounts for 53 percent and imports for 50 percent. .

Inflation Rate YoY Prel

In Austria, the most important category in the consumer price index is Housing and Utilities (19 percent of total weight). Transport accounts for 14 percent; Restaurants and Hotels for 13 percent; Recreation and Culture for 11 percent; Food and Non-Alcoholic Beverages for 11 percent and Miscellaneous Goods and Services for 9 percent. Alcoholic Beverages and Tobacco; Clothing and Footwear; Household Goods; Health; Communication and Education account for the remaining 23 percent of total weight.

Harmonised Inflation Rate YoY Prel

The Harmonised Index of Consumer Prices (HICP) is an indicator of inflation and price stability for the European Central Bank (ECB). The HICP is compiled by Eurostat and the national statistical institutes in accordance with harmonised statistical methods. The ECB aims to maintain annual inflation rates as measured by the HICP below, but close to, 2% over the medium term.

Harmonised Inflation Rate MoM Prel

KOF Leading Indicators

95.8

In Switzerland, the KOF Swiss Economic Institute economic barometer measures the level of optimism that people who run companies have about the performance of the economy and how they feel about their organizations’ prospects. The KOF economic barometer is based on a multi-sectoral design with three modules. The 2014 version comprises 219 indicator variables, which are combined based on statistically determined weights. The most important module is GDP, which excludes construction and banking sectors and accounts for more than 90% of Swiss GDP.

ECB General Council Meeting

In the Euro Area, benchmark interest rate is set by the Governing Council of the European Central Bank. The primary objective of the ECB’s monetary policy is to maintain price stability which is to keep inflation below, but close to 2 percent over the medium term. In times of prolonged low inflation and low interest rates, ECB may also adopt non-standard monetary policy measures, such as asset purchase programmes. The official interest rate is the Main refinancing operations rate.

PPI YoY

-1.7%

Producer prices change refers to year over year change in price of goods and services sold by manufacturers and producers in the wholesale market during a given period.

PPI MoM

0.7%

In France, the Producer Price Inflation MoM measures a month-over-month change in the price of goods and services sold by manufacturers and producers in the wholesale market.

Inflation Rate MoM Prel

0.1%

In France, the most important category in the consumer price index is services (48 percent of total weight), in particular actual rentals and services for dwellings (7 percent), health services (6 percent), transport (3 percent), and communication (2 percent). The index also includes: manufactured products (26 percent) such as medical products (4 percent) and clothing and footwear (4 percent); food (16 percent); energy (8 percent) such as petroleum products (4 percent); and tobacco (2 percent).

Inflation Rate YoY Prel

4%

In France, the most important category in the consumer price index is services (48 percent of total weight), in particular rents, water and garbage collection (8 percent), health services (7 percent), transport (2 percent), and communication (2 percent). The index also includes: manufactured products (24 percent) such as medical products (4 percent) and clothing and footwear (3 percent); food (16 percent); energy (9 percent) such as petroleum products (4 percent); and tobacco (2 percent).

GDP Growth Rate YoY Final

1.1%

France is the seventh largest economy in the world and the second largest in the Euro Area. France has a large and diversified industrial and agricultural base which includes aircraft, military equipment, perfumes, pharmaceuticals, wine, beef and wheat production. With at least 82 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. Services are the biggest sector of the economy (79 percent of total GDP) while industry accounts for 19 percent. Agriculture contributes 2 percent to GDP, yet France is the second largest exporter of agricultural products in the world.

GDP Growth Rate QoQ Final

0.6%

France is the seventh largest economy in the world and the second largest in the Euro Area. the biggest sector of the economy is household consumption (55 percent) followed by government expenditure (24 percent) and gross fixed capital formation (22 percent). Exports of goods and services account for 29 percent of GDP while imports account for 31 percent, subtracting 2 percent from total GDP.

Household Consumption MoM

0.2%

In France, household consumption refers to household expenditure on goods only, providing a short-term information of household consumption behavior relevant for economic analysis. Household consumption expenditure on goods accounted in 2010 for nearly 95 percent of total effective consumption in current euros and accounted for 50 percent of household consumption expenditure on goods and services.

Harmonised Inflation Rate YoY Prel

4.5%

The Harmonised Index of Consumer Prices (HICP) is an indicator of inflation and price stability for the European Central Bank (ECB). The HICP is compiled by Eurostat and the national statistical institutes in accordance with harmonised statistical methods. The ECB aims to maintain annual inflation rates as measured by the HICP below, but close to, 2% over the medium term.

Harmonised Inflation Rate MoM Prel

0.2%

Retail Sales MoM

0.8%

In Switzerland, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Switzerland, Retail sales are seasonal, volatile and relatively important to the overall economy.

Retail Sales YoY

-0.6%

In Switzerland, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

PPI YoY

-2.5%

Producer prices change refers to year over year change in price of goods and services sold by manufacturers and producers in the wholesale market during a given period.

Retail Sales MoM

In Germany, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Germany, Retail sales are seasonal, volatile and relatively important to the overall economy.

Retail Sales YoY

In Germany, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

Import Prices YoY

-14.3%

In Germany, Import Prices correspond to the rate of change in the prices of goods and services purchased by residents of that country from, and supplied by, foreign sellers. Import Prices are heavily affected by exchange rates.

Import Prices MoM

1.6%

In Germany, Import Prices correspond to the rate of change in the prices of goods and services purchased by residents of that country from, and supplied by, foreign sellers. Import Prices are heavily affected by exchange rates.

Unemployment Rate

2.5%

In Denmark, unemployment rates in per cent are calculated for the group of persons who are members of an unemployment insurance fund and for the total group of registered unemployed persons, i.e. unemployed insured persons plus unemployed uninsured persons. Both calculations are carried out for the 16-66 age bracket and do not include persons receiving early-retirement benefits or transitional benefits. The unemployment rate in per cent for registered unemployed persons is calculated by comparing the average number of unemployed persons to the workforce (RAS).

GDP Growth Rate YoY Prel

0.9%

In Denmark, household consumption is the main component of GDP and accounts for 49 percent of its total use, followed by government expenditure (27 percent, the highest among EU countries) and gross fixed capital formation (19 percent). Exports of goods and services account for 54 percent of GDP while imports account for 48 percent, adding 6 percent of total GDP.

GDP Growth Rate QoQ Prel

0.2%

In Denmark, household consumption is the main component of GDP and accounts for 49 percent of its total use, followed by government expenditure (27 percent, the highest among EU countries) and gross fixed capital formation (19 percent). Exports of goods and services account for 54 percent of GDP while imports account for 48 percent, adding 6 percent of total GDP.

Nationwide Housing Prices YoY

-3.3%

The Nationwide house price index is an indicator of trends in UK house prices. The index is calculated based on owner occupier house purchase transactions involving a mortgage. Buy to let and cash purchases are not included.

Nationwide Housing Prices MoM

0.9%

The Nationwide house price index is an indicator of trends in UK house prices. The index is calculated based on owner occupier house purchase transactions involving a mortgage. Buy to let and cash purchases are not included.

GDP Growth Rate YoY

3.8%

On the expenditure side, household consumption is the main component of Turkish GDP and accounts for 70 percent, followed by gross fixed capital formation (22 percent) and government expenditure (15 percent). Exports of goods and services account for 27 percent of GDP while imports account for 32 percent, subtracting 5 percent from total GDP.

GDP Growth Rate QoQ

3.5%

Turkey is classified as an emerging market economy. The country is one of the world's biggest producers of agricultural products; textiles; motor vehicles, ships and other transportation equipment; construction materials; consumer electronics and home appliances.

GDP Growth Rate YoY Final

-0.4%

The largest sector of the Finnish economy is services at 65 percent, followed by manufacturing and refining at 31 percent. Primary production is at 3 percent. Finland’s main industrial products are paper and board, electronics and metal products. Engineering and high technology industries are the leading branches of manufacturing. On the expenditure side, household consumption is the main component of GDP and accounts for 55 percent of its total use, followed by government expenditure (25 percent) and gross fixed capital formation (20 percent). Exports of goods and services account for 38 percent of GDP while imports account for 39 percent, subtracting 1 percent of total GDP.

GDP Growth Rate QoQ Final

0.6%

Although services account for 65 percent of Finnish economy, key sector is manufacturing, mainly wood, metals, engineering, telecommunications, and electronics industries. On the expenditure side, household consumption is the main component of GDP and accounts for 55 percent of its total use, followed by government expenditure (25 percent) and gross fixed capital formation (20 percent). Exports of goods and services account for 38 percent of GDP while imports account for 39 percent, subtracting 1 percent of total GDP. .

Retail Sales YoY

In Netherlands, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

Inflation Rate YoY Prel

-0.4%

In Netherlands, the most important categories in the consumer price index are: housing, water, electricity and gas (24.5 percent of the total weight); transport (11.6 percent) and food and non-alcoholic beverages (11.3 percent). The index also includes: recreation and culture (10.3 percent); furnishing and household equipment (6 percent); clothing and footwear (4.9 percent); hotels and restaurants (4.2 percent); communication (3.3 percent) and alcoholic beverages and tobacco (3.1 percent). Health, education and other goods and services account for the remaining 20.8 percent of total weight.

Housing Starts YoY

-6.8%

In Japan, housing starts refers to the year-on-year change in volume of new housing construction started.

Construction Orders YoY

-3%

In Japan, construction orders data refer to the value of new orders for construction work received during the month by 50 major constructors. Figures refer to the value of original contracts and construction for own use but not the value of subcontracted orders. .

2-Year JGB Auction

0.106%

Bank Lending

In Singapore, bank lending measures the change in the total value of outstanding bank loans and advances issued to consumers and businesses.

BoJ Nakamura Speech

In Japan, interest rates are set by the Bank of Japan's Policy Board in its Monetary Policy Meetings. The BoJ's official interest rate is the discount rate. Monetary Policy Meetings produce a guideline for money market operations in inter-meeting periods and this guideline is written in terms of a target for the uncollateralized overnight call rate.

NBS Manufacturing PMI

49.5

In China, the NBS Manufacturing Purchasing Manager Index measures the performance of the manufacturing sector and is derived from a survey of more large-scale, state-owned companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change. .

NBS Non Manufacturing PMI

50.6

In China, the Non-Manufacturing purchasing managers index survey is based on data collected from a representative panel of 1200 enterprises from the non-manufacturing sector. The survey includes ten questions on business activity, new orders, new export orders, in hand orders index, stock, intermediate input price, subscription price, employment, supplier delivery time, and business activities expectation. For each question, the diffusion index is calculated. As there’s no integrated PMI, the business activity index is usually used to reflect the overall changes in non-manufacturing sector. A PMI reading above 50 percent indicates expansion from the previous month, while below 50 indicates contraction.

NBS General PMI

50.7

In China, the NBS Comprehensive Purchasing Manager Index measures the performance of the manufacturing and non-manufacturing sectors. A reading above 50 indicates an expansion of the overall economic trend compared to the previous month; below 50 represents a contraction; while 50 indicates no change.

Interest Rate Decision

3.5%

In South Korea the interest rates decisions are taken by the Bank of Korea’s (BOK) Monetary Policy Committee. The official interest rate is the Bank of Korea Base Rate which was changed from overnight call rate on March 2008.

Building Permits MoM Prel

-4.6%

In Australia, Dwelling Approvals MoM show the monthly change in the number of total dwelling units approved, including building activity carried out on existing buildings.

Housing Credit MoM

0.4%

In Australia, housing credit refers to the month-over-month change of credit extended to the economy's private sector for housing expenditures. It includes securitisations.

Private Sector Credit YoY

4.9%

In Australia, private sector credit refers to the month-over-month change of credit extended to the economy's private sector for housing, personal and business expenditures. It includes securitizations.

Private Sector Credit MoM

0.5%

In Australia, private sector credit refers to the month-over-month change of credit extended to the economy's private sector for housing, personal and business expenditures. It includes securitizations.

Building Permits YoY Prel

-20.6%

Private House Approvals MoM Prel

-4.6%

Building Capital Expenditure QoQ

3.5%

Building Capital Expenditure in Australia is measured as the quarter-on-quarter change. The Survey of New Capital Expenditure includes the following industries classified according to the Australian and New Zealand Standard Industrial Classification, ANZSIC, 2006: Mining, Manufacturing & Other selected industries such as Electricity, Gas, Water and Waste Services, Construction, Wholesale Trade, Retail Trade, Transport, Postal and Warehousing, Information Media and Telecommunications Finance and, Rental, Hiring and Real Estate Services Professional, Scientific and Technical Services.

Plant Machinery Capital Expenditure QoQ

1.9%

Plant Machinery Capital Expenditure is measured as the quarter-on-quarter change. The Survey of New Capital Expenditure includes the following industries classified according to the Australian and New Zealand Standard Industrial Classification, ANZSIC, 2006: Mining, Manufacturing & Other selected industries such as Electricity, Gas, Water and Waste Services, Construction, Wholesale Trade, Retail Trade, Transport, Postal and Warehousing, Information Media and Telecommunications Finance and, Rental, Hiring and Real Estate Services Professional, Scientific and Technical Services.

Private Capital Expenditure QoQ

2.8%

Private investment in Australia refers to quarter on quarter change in Private Capital Expenditure. The Capital Expenditure Survey in Australia includes the following industries: Mining, Manufacturing & Other selected industries such as Electricity, Gas, Water and Waste Services, Construction, Wholesale Trade, Retail Trade, Transport, Postal and Warehousing, Information Media and Telecommunications Finance and Rental, Hiring and Real Estate Services Professional, Scientific and Technical Services.

Car Production YoY

39.8%

ANZ Business Confidence

23.4

In New Zealand, the business confidence index is designed to provide a snapshot of business opinions regarding the expected future state of their business and economy overall. The survey covers around 700 respondents. The Net index is calculated by subtracting the percentage number of businesses that expect that the economic situation improves from the number that expect decline.

St Andrew’s Day