Overnight Economic Data

March 30th, 2015 9:51 pm | by John Jansen |

Via Robert Sinche at Amherst Pierpont Securities:

AUSTRALIA: The BBerg consensus expects February Private Sector Credit Growth to rise 6.3% YOY, which would be the strongest since Jan 2009, although far below the 16.5% peak of December 2007 as consumer spending moderated and capital investment weakened materially in recent years.

S. KOREA: February data on Industrial Production is likely to show a YOY decline, maintaining the lackluster growth trend over the last 2 ½ years as the KRW strengthened versus the JPY and hurt competitiveness.

JAPAN: The February data on Labor Cash Earnings should maintain the trend of falling real wages that continues to plague the Japanese economy. Higher headline inflation remains the problem, not the solution.

EURO ZONE: The BBerg consensus expects the February UR to be stable at 11.2% while the Headline CPI rebounds to -0.1% YOY in March from -0.3% YOY in February, while the core CPI remains stable at 0.7% YOY.

GERMANY: The BBerg consensus expects Unemployment to fall another -12K in March while February Real Retail Sales increased a healthy 3.4% YOY, a sign that domestic demand is responding to lower energy costs.

FRANCE: The BBerg consensus expects February Household Consumption to have increased a respectable 2.6% YOY for the 2nd consecutive month, the strongest gains since early 2011.

ITALY: The BBerg consensus expects Headline inflation to stabilize at 0.1% YOT for the 2nd consecutive month while the UR holds at 12.6% for the 2nd consecutive month.

SPAIN: The BBerg consensus expects February Retail Sales to be up about 4%, in line with the solid gains over recent months, as the recovery takes hold.

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