The US jobs report will be the main economic release next week, with other US data including ISM and consumer confidence. Elsewhere, the focus will be on inflation in Europe and China, while wage data is due in Japan, according to a report by economists at Deutsche Bank.
Europe and China focus on inflation
“In the US, the main event will be the December jobs report due on Friday. US economists expect non-farm payrolls to rise by +50k (+64k in November), with the unemployment rate falling slightly to 4.5% (4.6%), and hourly earnings growth rising to +0.3% m/m (+0.1%). ADP and JOLTS reports are also due on Wednesday. Meanwhile, there are ISM indicators and readings from our economic team. From 48.8 and 52.1, respectively. Other notable releases will be the University of Michigan consumer survey on Friday (DB expects 54.0, up from 52.9 in December) and third-quarter labor costs on Thursday.
“Moving to Europe, the focus will be on preliminary CPIs for December in the eurozone. Readings for Germany and France are due on Tuesday, with a eurozone-wide report due on Wednesday. Outside the bloc, consumer price inflation is also due in Switzerland, Sweden and Norway. In Germany, other notable economic releases include factory orders on Thursday and industrial production and trade balance on Friday.
“Continuing the economic calendar for Asia, highlights include CPI and PPI reports in China on Friday as well as wages in Japan on Wednesday.”
