From SA updating on inflation, trade and employment to the US continuing to catch-up on economic releases, here's what to look out for this week.
Over the coming days South Africa will update on inflation, trade and employment. Central banks in Angola, Egypt, Kenya and Zambia will consider policy changes. The US will continue to catch-up on economic releases delayed by the recent government shutdown, Europe will report unemployment figures and Japan will release its semi-annual economic report. Here is your guide.
South Africa's chock-a-block week of data begins on Monday with last month's liquidations numbers and July's tourism figures from Statistics South Africa (Stats SA). The agency's quarterly labour force statistics for the July to September period will follow on Tuesday along with the Reserve Bank's September monthly release and report of international reserves.
On Thursday, Stats SA will release September's producer price index (PPI) and the South African Revenue Service will report September's preliminary trade tallies.
The Bureau for Economic Research's manufacturing purchasing managers' index (PMI) will close out the country's data week on Friday.
Elsewhere on the continent, officials at the Central Bank of Angola will announce their latest rates decision on Monday. Announcements from Kenya and Egypt will follow on Thursday and a decision from Zambia's central bank is also expected this week.
The Banco Nacional de Angola has cut its policy rate by 50-basis points this year – most recently by 25-basis points in August – in a bid to boost economic growth. These cuts have not had their desired effect.
Earlier this month, officials cut the country's growth forecast from 7.1% to 5.1%, citing lower-than-expected growth in the oil sector, "bad management" of public debt, and weakness in the global economy. Unfortunately, a new law requiring the use of local currency and local banks for domestic transactions by oil companies is expected to add to price pressures moving forward, limiting the central bank's scope for further rate cuts.
Consumer inflation in Kenya spiked sharply in September and may force policymakers to raise rates by early next year, if not sooner. Egypt's central bank has cut interest rates twice since the military seized power in July and does not seem bothered by the inflation it has stoked. More may be in store.
The Bank of Zambia's monetary policy committee left its benchmark rate on hold at a record 9.75% for the third consecutive month in September. Officials are expected to maintain their conservative stance at this week's meeting.
America's economic week will begin on Monday with the release of last month's industrial production data. Consensus is that output rose 0.4% on a monthly basis in September, the same rise recorded in August.
Tuesday will bring last month's retail sales figures and PPI readings. Retails sales likely remained flat, after rising 0.2% in August. Prices at the factory gate probably rose 0.2% on a monthly basis, down from a 0.3% gain in August.
September's consumer price index, which will follow on Wednesday, is expected to show a slight acceleration in consumer inflation. Consensus is for a 0.2% monthly rise following August 0.1% increase.
Also on Wednesday, the US Federal Reserve will conclude a two-day policy meeting. Policymakers are not expected to change rates or the size of the central bank's $85-million per month asset purchasing programme. A recent poll by Bloomberg showed that, following the recent government shutdown, the majority of economists expect the Federal Reserve to leave its quantitative easing programme unchanged until March of next year.
On Thursday, economists and investors will turn their attention to the government's weekly jobless claims report. Consensus is that initial claims for federal unemployment benefits fell to 335 000 in the week ended October 26 from 350 000 in the week prior.
Finally, on Friday, the Institute for Supply Management's manufacturing index is expected to slip from 56.2 to 55. Any reading above 50 signals continued expansion for the sector.
Beyond these economic releases, about a quarter of the Standard & Poor's (S&P) 500 component companies will report earnings this week. Big names on the list include Apple, LinkedIn, Facebook, Starbucks, General Motors, Visa and legendary investor Warren Buffett's Berkshire Hathaway.
The Bank of England will release last month's mortgage approvals figures on Tuesday. UK lenders approved 62 226 mortgages in August, the most since February 2008. Analysts believe that approvals surged further – to roughly 65 000 – in September.
Other data from the country's central bank, also due on Tuesday, are likely to show that secured lending increased by £1.4-billion last month, up from a £1.0-billion rise in August. Consumer credit likely rose by £800-million, up from a £600-million increase in the previous month.
On Wednesday, attention will shift to the eurozone's latest sentiment gauges. The 17-member eurozone's economic sentiment indicator is expected to rise for the sixth consecutive month to a reading of 97.5 from 96.9, which was its highest level since August 2011. The eurozone's business climate, consumer sentiment and industrial sentiment indices are also expected to improve.
More housing data from the UK will follow on Thursday along with unemployment updates from Europe. Nationwide's house prices index is likely to show that UK housing prices rose 0.7% in October over the month, down from a 0.9% rise in September. The eurozone's unemployment rate is likely to hold steady at 12%.
Finally, on Friday, attention will turn to manufacturing PMIs data covering the UK and eight other European countries, Russia, Ireland, Sweden, Norway, Turkey, Czech Republic, Switzerland and Greece. Economists expect the UK's Chartered Institute of Purchasing and Supply (CIPS)/Markit PMI to slip from 56.7 to 56.5, but remain well above the 50 mark separating expansion from contraction.
Japan – the world's number three economy – will take centre stage in Asia this week. Officials will release last month's unemployment, household spending and retail sales data on Tuesday.
Analysts surveyed by Market News International expect the country's unemployment rate to have fallen to 4.0% last month from 4.1% in August. The ratio of job offers to job seekers likely edged up to 0.96 in September from 0.95 in August.
Household spending probably posted its first year-on-year gain in two months in September, having likely risen 0.8% in real terms from a year earlier. Retail sales data are expected to show a 1.9% year on year rise for September, an improvement on August's 1.1% gain.
On Wednesday, officials will release last month's industrial production figures. Consensus is that output rose 1.8% from August. If the forecast is met, output for the third quarter will rise 1.9%, quarter on quarter, its third straight quarterly gain.
On Thursday, the ministry of land infrastructure, transport and tourism will report September's housing starts figures and the central bank will release its semi-annual economic report. Analysts expect housing starts to have risen for a 13th consecutive month.
Beyond Japan, Asian markets will also be on the lookout for the Reserve Bank of India's (RBI) rates decision on Tuesday and reports from a slew of Chinese banks – including Agricultural Bank of China, Bank of China and the Industrial and Commercial Bank of China – on Wednesday.
Despite signs of sluggish growth, analysts expect policymakers at the RBI to focus on rising price pressures in their deliberations this week. Consensus is that officials will hike the bank's repo and reverse repo rates by 25-basis points each to 7.75% and 6.75% respectively.