The week kicks off on Monday

The Australian Bureau of Statistics (ABS) releases the Business Indicators publication for the December quarter. The data on inventories or stocks is a direct input to Wednesday’s economic growth figures. Furthermore, the ABS also publish the building approvals data – a key leading indicator for home building. And the ANZ issues its job advertisements index for the month of February. 

On Tuesday

The regular weekly reading on consumer confidence is published by ANZ and Roy Morgan. And the ABS publish quarterly data on government spending and the Balance of Payments – the broader data on the trade position. Also, on Tuesday the Federal Chamber of Automotive Industries issues the February new vehicle sales figures. And both AiGroup and CommBank publish their respective purchasing manager survey results for the services sector.

On Wednesday

The ABS release the National Accounts – containing the key reading of economic growth in the September quarter. The current annual growth rate of 2.8% is in-line with the 2.75% long-term average. 

On Thursday 

The ABS issue the international trade (data on exports and imports) and retail trade data for January. The AiGroup’s construction gauge is also issued. Residential housing construction activity is slowing.  

On Friday

On Friday the Reserve Bank’s Head of Economic Research, John Simon, delivers a speech in Brisbane.

In the USA

The US employment report, together with Chinese trade and inflation data all feature this week.

Next Monday

In the US when the ISM New York business conditions index and construction spending data are released. Gains in home building have partly offset weakness in non-residential construction.

Tuesday

New home sales, weekly Johnson Redbook chain store sales, ISM non-manufacturing and IBD/TIPP economic optimism data are all scheduled. And the latest monthly US budget statement is also due.

Wednesday

In the US, factory orders and international trade data are scheduled with the weekly gauge of mortgage applications. And the Federal Reserve’s Beige Book and ADP’s private payrolls report are issued.

Thursday

The US goods trade balance for January is issued along with the consumer credit report, quarterly unit labour costs/productivity data and the weekly new claims for unemployment insurance (jobless claims). 

Friday

In the US all eyes will be on the February jobs report. The US economy added jobs for a record breaking 100th consecutive month in January. An additional 170,000 jobs are expected to have been created in February, taking the unemployment rate down from 4% to 3.8% – near 50-year lows.  

The end of reporting season

The Australian corporate reporting season has ended for the major industrial companies. But a host of earnings results, especially from resources companies, are due in the coming week. The reports include: 

Monday: Cullen Resources, Dragon Mountain Gold; Hannans, Retail Food Group; Scout Security; Zinc of Ireland. 

Tuesday: Cap-XX; Carpentaria Resources; Elementos.

Wednesday: ALT Resources; Carnavale Resources; Cassius Mining; GoConnect; MMG; Myer; Red Metal; Santana Minerals; Tungsten Mining.

Thursday: ActivEx; Argent Minerals; GWR Group; Lithium Consolidated; Primero Group; ThinkSmart.

Friday: Alchemy Resources; Bauxite Resources; E3Sixty; Odyssey Energy; Poseidon Nickel; Sovereign Metals.