A number of Economic Data will be released from Japan. What to expect?
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The week ahead will mark a new trading month with the economic calendar starting to get busy towards the latter part of the week.
Data for the week ahead includes the durable goods orders from the U.S. followed by the second revised GDP estimates for the final quarter of 2017.
The week, ends with the ISM’s manufacturing PMI data due later on Thursday.
In the Eurozone, flash inflation estimates for the month of February will outline how consumer prices performed during the second month of the year.
In the UK, the manufacturing and construction PMI numbers are due while Canada will be reporting on its monthly GDP data
Japan Inflation data on tap
Economic data from Japan for the week ahead will focus on the housing markets, manufacturing activity, retail sales and inflation.
Retail sales data is expected to moderate to post an annual gain of 2.5%, down from 3.6% that was reported for the previous period.
Industrial production is expected to post a contraction showing a 4.2% decline on a monthly basis.
Investors will be focusing on Thursday’s inflation report. Economists forecast that the Tokyo CPI increased 1.4% on an annual basis in January. This would be slightly higher from 1.3% increase seen the month before.
Core CPI is also expected to rise 0.8%, slightly up from 0.7% increase from the previous month.
Japan’s unemployment data will be another data point to watch out for.
Economists forecast that the unemployment rate was unchanged at 2.8%.
The inflation data comes out ahead of the BoJ’s meeting due in two weeks time.
A steady increase in consumer prices could potentially influence policy makers when they decide at the next BoJ meeting.