|
Roundup
of overnight activity
and today's economic
highlights.
Last
Updated:
10th March 2010
|
NIESR Data To Give Fresh Insight To Recovery's Progress
Time |
Country |
Event |
Forecast |
Previous |
00:00 |
UK |
NIESR Gross Domestic Product Estimate Feb % |
' |
0.4 |
08:00 |
GER |
CPI Feb (final) mom (yoy) % |
0.2 (0.4) |
-0.6 (0.8) |
08:00 |
GER |
CPI - EU Harmonised Feb (final) mom (yoy) % |
0.2 (0.3) |
-0.6 (0.8) |
09:30 |
UK |
Industrial Production Jan mom (yoy) % |
0.3 (-0.8) |
0.5 (-3.6) |
09:30 |
UK |
Manufacturing Production Jan mom (yoy) % |
0.3 (1.4) |
0.9 (-1.9) |
12:00 |
US |
MBA Mortgage Applications w/e 05/03 |
' |
' |
12:00 |
US |
Bloomberg Global Confidence Mar |
' |
54.89 |
15:00 |
US |
Wholesale Inventories Jan % |
0.3 |
-0.80 |
15:00 |
US |
Wholesale Sales Jan % |
0.8 |
0.80 |
18:00 |
US |
Result of $21bn 10yr note auction |
' |
' |
19:00 |
US |
Monthly Budget Statement Feb $bn |
' |
-42.6 |
Overnight Developments
US Treasury bond prices registered modest gains on Tuesday, sentiment bolstered by the apparent renewal of China's commitment to this market. Prices were underpinned additionally by a favourable 3-year auction result and by optimism that the cheapening that has been seen in the past week will ensure good demand for today's 10-year offering.
Today's Key Events
UK manufacturing output is expected to post a comparatively robust performance in the latest reporting period, an outcome that will be supported by survey evidence. As in many industrialised economies, production is being boosted by a turn around in the inventory cycle where stocks are being rebuilt from levels that had been reduced to uncomfortably low positions during the height of the recession. This has delivered good momentum to output but economists warn it will not persist as a growth driver and stronger consumption will need to kick in if a recovery is to be sustained. Overall UK industrial output may have been affected adversely by inclement weather conditions, notably in areas such as mining. But an increase in energy production during the cold snaps will have countered the negative impact of the former. Elsewhere, the NIESR estimate of GDP growth in February will be studied for any signs that the UK recovery may have weakened in the depths of the winter months.
Forthcoming - Key Events
Policy meetings -
ECB 8 April, MPC
7/8 April, FOMC 16 March,
Quarterly Inflation
Report 12 May.
|
