The week ahead: 06/12/21
International trade is in the spotlight this week, with trade balance figures due for China, the US, Germany and the UK. We’ll also see inflation data for China, Germany and the US. Meanwhile earnings come from AutoZone, Designer Brands, Brown-Forman, GameStop, Toll Brothers, Costco, Broadcom, Lululemon Athletica and Hormel.
Monday 6 December
We start the week with German factory orders for October, plus German and UK construction PMI data for November. In the afternoon the Conference Board sheds light on the US labour market with its employment trends index. Last time out the composite index rose from 109.68 to 112.23, indicating strong employment growth. Late in the evening Japanese household spending is released.
Tuesday 7 December
A mixed set of economic data releases on Tuesday includes the BRC monitor on UK retail sales, the Halifax index of UK house prices, German industrial production and ZEW economic sentiment, and US nonfarm productivity and unit labour costs. We’ll also get a look at eurozone and Japanese GDP and Chinese and US trade balance. Earnings are scheduled from car parts retailer AutoZone, construction equipment rental group Ashtead, aerospace and defence contractor Babcock International, property development group Berkeley and fashion retailer Designer Brands.
Wednesday 8 December
On Wednesday look out for quarterly figures from alcoholic drinks manufacturer Brown-Forman, video game retailer GameStop, home furnishings firm RH, food brand Campbell’s and US construction firm Toll Brothers. The luxury-home builder aims to capitalise on significant growth in the US housing market. We’ll also see the US weekly crude oil inventories and the JOLTs report on US job openings.
Thursday 9 December
Wholesaler Costco reports to the market on Thursday, having last week announced a 15.7% year-on-year increase in sales across November. Other companies reporting include semiconductor and software supplier Broadcom, sportswear retailer Lululemon Athletica, food company Hormel, packaging firm DS Smith and UK public transport provider FirstGroup. Among the macroeconomic data, keep an eye out for the RICS UK house price balance, China’s CPI for November, the weekly US initial jobless claims and the latest German trade balance.
Friday 10 December
UK industrial and manufacturing production figures will be posted on Friday, along with the October trade balance. Total imports of goods increased by £2.3 billion in September to widen the trade deficit, driven mostly by non-EU imports. More inflation data is released with the German and US CPI for November. We round off the week with the preliminary University of Michigan consumer sentiment index and the latest US Federal budget balance.
Published: 6 December 2021
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