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EUROPEAN ECONOMICS PREVIEW: UK UNEMPLOYMENT DATA DUE



Labor market statistics from the UK and economic confidence from Germany are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK unemployment data for August. The jobless rate is forecast to rise to 4.3 percent in three months to August from 4.1 percent in the preceding period.

In the meantime, final consumer price data is due from Germany. According to preliminary estimate, consumer prices decreased 0.2 percent on year in September after staying flat in August.

At 3.00 am ET, industrial production from Turkey and Hungary are due. Turkey's industrial output is seen rising 3 percent in August after climbing 4.4 percent in July.

Half an hour later, Statistics Sweden publishes consumer price figures for September. Inflation is seen at 0.6 percent versus 0.8 percent in August.

At 5.00 am ET, Germany's ZEW economic confidence survey results are due. Economists forecast the economic sentiment index to fall to 73.0 in October from 77.4 in September.

At 8.30 am ET, the International Monetary Fund is set to publish the World Economic Outlook report.

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EUROPEAN ECONOMICS PREVIEW: EUROZONE INDUSTRIAL OUTPUT DATA DUE



Industrial production from euro area is due on Wednesday, headlining a light day for the European economic news.

At 1.00 am ET, consumer price data is due from Statistics Finland. Prices had increased 0.2 percent on year in August.

At 3.00 am ET, Spain's INE is scheduled to release final consumer prices for September. Prices are expected to fall 0.4 percent on year, the same rate as initially estimated.

At 4.00 am ET, European Central Bank President Christine Lagarde is set to speak via videoconference at the 16th Global Roundtable organized by the United Nations Environment Programme Finance Initiative.

At 5.00 am ET, Eurostat is slated to issue area area industrial output data for August. Economists forecast production to grow 0.8 percent on month, slower than the 4.1 percent increase seen in July.

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CHINA'S INFLATION SLOWS IN SEPTEMBER; PPI CONTINUES TO FALL



China's consumer price growth slowed in September on easing food price inflation and producer prices continued to ease, data from the National Bureau of Statistics showed Thursday.

Consumer prices advanced 1.7 percent on a yearly basis in September, slower than the 2.4 percent increase seen in August. This was also slower than the economists' forecast of 1.8 percent.

At the same time, core inflation, which excludes food and energy prices, held steady at 0.5 percent in September.

Driven by a slowdown in pork price inflation, food prices grew 7.9 percent following 11.2 percent rise in August. Pork prices grew 25.5 percent but much slower than the 52.6 percent increase logged in the previous month.

On a monthly basis, consumer prices gained 0.2 percent versus a 0.4 percent rise a month ago. Another report from NBS showed that producer prices were down 2.1 percent annually after easing 2 percent in August. Economists had forecast an annual decrease of 1.8 percent.

With infrastructure-led stimulus still being ramped up and consumption rebounding, demand-side pressures on prices will probably strengthen in the coming months, pushing up underlying inflation, Julian Evans-Pritchard and Sheana Yue, economists at Capital Economics, said.

However, the economists noted that the rebound in core consumer price inflation will still leave it relatively subdued and food price inflation looks set to drop back further in the near-term as pork supply continues to recover from last year's African swine fever outbreak.

The benign outlook for inflation means it is unlikely to be a major driver of policy decisions in the coming quarters, the economists added.

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EUROPEAN ECONOMICS PREVIEW: EUROZONE CONSUMER PRICES, FOREIGN TRADE DATA DUE



Final consumer prices and foreign trade figures from euro area are due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, the European Automobile Manufacturers Association is set to issue Europe's new car registrations data. Sales had declined 18.9 percent annually in August.

At 3.00 am ET, the Czech Statistical Office releases producer prices for September. Prices are forecast to drop 0.7 percent annually after falling 0.5 percent in August.

At 4.00 am ET, Italy's final consumer price data is due. Prices are forecast to fall 0.5 percent annually, as initially estimated in September.

At 5.00 am ET, Eurostat is scheduled to publish euro area final consumer prices and foreign trade data. According to flash estimate, consumer prices dropped 0.3 percent on year in September, following a 0.2 percent decrease in August.

The euro area trade surplus is forecast to fall to EUR 15.1 billion in August from EUR 27.9 billion in July.

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CHINA GDP EXPANDS 4.9% ON YEAR IN Q3



China's gross domestic product was up 4.9 percent on year in the third quarter of 2020, the National Bureau of Statistics said on Monday - missing forecasts for a gain of 5.2 percent but still up from 3.2 percent in the three months prior.

On a quarterly basis, GDP rose 2.7 percent - again shy of expectations for 3.2 percent and down sharply from the 11.5 percent gain in the previous three months.

The bureau also said that industrial production jumped 6.9 percent on year in September - beating forecasts for a gain of 5.8 percent and up from 5.6 percent in August.

Retail sales climbed an annual 3.3 percent, exceeding expectations for a rise of 1.8 percent following the 0.5 percent gain in the previous month.

Fixed asset investment was up 0.8 percent year to date in September, matching forecasts following the 0.3 percent fall a month earlier.

The jobless rate came in at 5.4 percent in September, down from 5.6 percent in August.

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EUROPEAN ECONOMICS PREVIEW: GERMANY PRODUCER PRICES DATA DUE



Producer prices from Germany and current account from euro area are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's producer prices for September. Economists forecast prices to fall 1.4 percent annually, after easing 1.2 percent in August.

At 4.00 am ET, the European Central Bank releases euro area current account data for August. The current account surplus is seen at EUR 17.2 billion compared to a EUR 16.6 billion surplus logged in July.

In the meantime, industrial production and producer prices are due from Poland. Industrial output is expected to grow at a faster pace of 3.8 percent after rising 1.5 percent in August.

At 8.00 am ET, Hungary's central bank monetary policy announcement is due. Economists expect the bank to hold its key rate at 0.60 percent.

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AUSTRALIA'S LEADING INDEX SIGNALS ROBUST GROWTH MOMENTUM



Australia's leading index improved in September suggesting that momentum continued to show a significant improvement consistent with the economy moving out of recession, data from Westpac showed Wednesday.

The six-month annualized growth rate in the Westpac Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, rose to -0.48 percent in September from -2.28 percent in August.

The leading index growth rate has lifted a whopping 5.11 percentage points since April, data showed.

The main components driving the improvement have been US industrial production, the S&P/ASX 200, aggregate monthly hours worked, the Westpac-MI Consumer Expectations index, and the Westpac-MI "Unemployment Expectations index.

However, these gains have been partially offset by a bigger drag from commodity prices and the dwelling approvals.

Westpac upgraded its growth outlook for 2021 to 2.8 percent and that for 2022 to 3.5 percent.

Key factors behind the improvement are a boost to consumer demand, as households spend around 50 percent of the personal tax cuts, and a lift in business investment in response to the accelerated depreciation allowances.

Bill Evans, chief economist at Westpac expects the cash rate, the three year bond target rate and the rate on the Term Funding Facility to be reduced from 0.25 percent to 0.10 percent at the upcoming meeting on November 3.

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EUROPEAN ECONOMICS PREVIEW: GERMAN CONSUMER CONFIDENCE DATA DUE



Consumer confidence from Germany is due on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, Germany's Gfk consumer confidence data is due. The forward-looking consumer sentiment index is seen at -2.8 in November versus -1.6 in October.

In the meantime, unemployment data is due from Statistics Norway. The jobless rate is forecast to fall to 5.1 percent in three months to August.

At 2.45 am ET, the French statistical office Insee releases business confidence survey results. The sentiment index is forecast to remain unchanged at 96 in October. At 3.00 am ET, consumer confidence from Turkey is due.

At 6.00 am ET, the Confederation of British Industry releases Industrial Trends survey results. The order book balance is seen at -45 percent in October versus -48 percent in September.

At 7.00 am ET, Turkey's central bank announces its interest rate decision. The bank is expected to lift its one-week repo rate to 12.00 percent from 10.25 percent.

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