05 March 2021
Chris Scicluna
- BoJ consumption activity index points to sharp decline in real spending in January due to intensified pandemic and associated restrictions.
- Annual NPC begins with China announcing conservative 2021 GDP growth target of “over 6%”.
- German factory orders data beat expectations with stronger-than-expected start to 2021 but turnover figures point to drop in industrial production.
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04 March 2021
Chris Scicluna
- Japanese consumer confidence rebounds to post-pandemic high in February.
- Chancellor Merkel confirms plan for very gradual reopening of German economy.
- Australian retail spending confirmed to have grown modestly in January, while booming commodity prices sent the international trade surplus to a record high.
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03 March 2021
Chris Scicluna
- Japan’s services PMI revised up 0.5pt to 46.3 in February, still tracking well below Q4 levels but detail signals firms see brighter future.
- UK Budget to provide near-term support before a tightening of the fiscal stance next year.
- Aussie GDP expands 3.1%Q/Q on Q4 as household spending and business capex recover, above RBA expectations but unlikely to cause the Bank to reassess its dovish inflation outlook.
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02 March 2021
Chris Scicluna
- Japan’s MoF corporate survey reports an unexpected 0.3%Q/Q decline in firms’ capex in Q4.
- RBA leaves policy settings unchanged, retains forward guidance of no lift in the cash rate until 2024 at the earliest.
- German retail sales much weaker than expected with a further big drop in January.
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01 March 2021
Chris Scicluna
- Japan’s manufacturing PMI revised higher; Q4 capex and January labour market data ahead tomorrow and more sentiment indicators and news on consumer spending due later in the week.
- China’s official PMIs disappoint again with both manufacturing and services softening.
- German and Italian flash inflation data ahead today with equivalent euro area figures on Tuesday; German lockdown review will be of note on Wednesday.
- Government’s midweek Budget statement the main focus in the UK this week.
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