The fourth week of March was filled with significant macroeconomic events, including the release of GDP and inflation figures in the US, along with key economic reports from the UK.
Germany:
● At 8:30 a.m. GMT, the Purchasing Managers’ Indices (PMI) for March were published. The manufacturing PMI rose from 46.5 to 48.3, while the services PMI dropped from 51.1 to 50.2.
Eurozone:
● At 9:00 a.m. GMT, similar data was released for the Eurozone. The manufacturing PMI went up from 47.6 to 48.7, while the services PMI declined from 50.6 to 50.4.
United States:
● At 1:45 p.m. GMT, the Purchasing Managers’ Indices (PMI) in the US for March were released. The manufacturing PMI fell from 52.7 to 49.8, while the services PMI climbed from 51.0 to 54.3.
Germany:
● At 9:00 a.m. GMT, the IFO Business Climate Index for March was released. The figure reached 86.7, up from the previous value of 85.3.
United States:
● At 2:00 p.m. GMT, the Conference Board’s US Consumer Confidence Index for March was published. Consumer confidence decreased from 100.1 to 92.9.
● At the same time, the report on new home sales for February was released, showing an increase to 676,000 homes sold, up from 664,000 in the previous period.
Great Britain:
● At 7:00 a.m. GMT, the February inflation report was published. The Consumer Price Index dropped year-over-year from 3.0% to 2.8%, while the monthly figure rose from -0.1% to 0.4%.
● At 10:00 a.m. GMT, the UK's spring budget forecast was released.
United States:
● At 1:30 p.m. GMT, the U.S. Energy Information Administration (EIA) published crude oil inventory data. Inventories fell by 3.341 million barrels, following a 1.745 million barrel increase the previous week.
United States:
● At 12:30 p.m. GMT, US GDP data for the fourth quarter was released. The economic growth rate was forecast at 2.4%, down from 3.1% previously.
● At the same time, the weekly report on initial unemployment claims was published. The forecast showed 224,000 claims, compared to 225,000 the week before.
Great Britain:
● At 7:00 a.m. GMT, the Retail Sales Report for February was released. Core Retail Sales were expected to drop by 0.3% month-over-month, down from a 2.1% increase previously. Total retail sales were also expected to ease following a 1.7% growth in the previous period.
● Also at 7:00 a.m. GMT, the UK GDP report for the fourth quarter was due. Economic growth was projected at 1.4% month-over-month, with quarterly growth at 0.1%.
Germany:
● At 7:00 a.m. GMT, the March labour market report was published. The unemployment rate was expected to remain steady at 6.2% month-over-month, with the number of unemployed rising by 10,000, compared to an increase of 5,000 previously.
United States:
● At 12:30 p.m. GMT, Personal Consumption Expenditure data for February was released. The Core Price Index was expected to remain unchanged at 0.3% month-over-month, while personal spending was forecast to rise by 0.5%, following a 0.2% increase previously.
Canada:
● At 12:30 p.m. GMT, the January GDP report was released. Month-over-month growth was expected to be 0.2%, matching the previous reading.
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