Week Ahead – Avalanche of data releases to keep traders busy
XM Group | Apr 13, 2023 07:48AM ET
China set for growth rebound
The world’s second-largest economy has been battered and bruised over the last year, grappling with a double whammy of draconian lockdowns and the meltdown in the nation’s property sector. Luckily both problems have eased in recent months, as the anti-covid measures were lifted and the real estate market has started to heal.
Next week, the ball will get rolling with China’s GDP growth numbers on Tuesday. Business surveys painted a mixed picture during the first quarter, signaling that the services sector continues to enjoy a reopening boost but manufacturing has started to lose momentum.
Accordingly, forecasts from economists suggest economic activity picked up steam in Q1. Economic growth is expected to have risen by 1.2% from the previous quarter, after a flat reading in Q4. Hence, the situation seems to be improving, but it’s questionable whether this will last once the reopening boom fades.
Likewise, Canadian inflation numbers for March will be released Tuesday, ahead of retail sales for February due out on Friday. In New Zealand, the inflation report for Q1 will hit the markets Thursday.
Last but not least, it’s going to be a quiet week in the United States, although the S&P Global business surveys on Friday will provide crucial insights about the economy’s health.
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