Week Ahead Economic Preview: Week Of 11 October 2021
IHS Markit | Oct 08, 2021 10:50
The week ahead brings a busy economic calendar with inflation data due from the US and China plus GDP and labour market updates from the UK. Trade data from China and the UK, plus US retail sales, are also issued. Monetary policy meetings in South Korea and Singapore are in the calendar, though for central bank watchers the focus will be on the FOMC minutes.
September's Fed FOMC meeting alluded to the Fed's intention to taper 'soon'. While largely expected, the meeting leaned on the hawkish end and further details from the meeting minutes will be scrutinised to assess lift-off criteria. At the same time, US inflation figures will also be eyed warily amid ongoing market jitters with regard to elevated prices. Global manufacturing prices notably accelerated in September amid supply shortages and steeper shipping costs, with the US being one of the developed economies that continued to experience severely elevated price pressures.
China's factory gate inflation is likewise expected to stay aloft as inflationary pressures picked up in September amid material shortages, according to the Caixin China General Manufacturing PMI. Retail sales will also be in focus after COVID-19 outbreaks receded.
In the UK, supply issues continued to snowball in the post-Brexit reality and official GDP data for August will provide an update to the extent to which growth has been hampered. As far as the IHS Markit/CIPS UK indicated, output growth had slowed sharply in the month, hit by the constraints. The UK's labour market data will also be eyed for signs of rising wage pressures.
"Disclaimer: The intellectual property rights to these data provided herein are owned by or licensed to Markit Economics Limited. Any unauthorised use, including but not limited to copying, distributing, transmitting or otherwise of any data appearing is not permitted without Markit’s prior consent. Markit shall not have any liability, duty or obligation for or relating to the content or information (“data”) contained herein, any errors, inaccuracies, omissions or delays in the data, or for any actions taken in reliance thereon.
In no event shall Markit be liable for any special, incidental, or consequential damages, arising out of the use of the data. Purchasing Managers' Index™ and PMI™ are either registered trademarks of Markit Economics Limited or licensed to Markit Economics Limited. Markit is a registered trade mark of Markit Group Limited."
Get The App
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.