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Tuesday economic announcements heat up from a relatively slow Monday, boosted by key readings of service PMIs. Here’s what you need to know.
- Australia starts things off at 7:30 p.m. on Monday evening with May services PMI. There is no consensus for the report, which last registered at 39.6. A reading below 50 indicates contraction.
- Taiwanese and Filipino CPI follow at 8:30 and 9:00 p.m., with expectations for 1.4 per cent and 3.0 per cent year-on-year gains, respectively.
- Chinese services PMI hits at 10:30 p.m.
- At 1:00 a.m. on Tuesday morning, Russian and Indian services PMI will be released.
- First quarter Finnish GDP figures will be released at 2:00 a.m., which last showed 0.1 per cent growth in the fourth quarter of 2011.
- Between 3:15 and 4:00 a.m. a series of European service PMI readings will be announced. Expectations are for earlier French and German figures to hold, at 45.2 and 52.2, respectively. Eurozone composite PMI is seen at 45.9.
- At 6:00 a.m., German factory orders will be released. Expectations are for a 1.1 per cent sequential decline in April.
- Canadian building permits will be announced at 8:30 a.m. with forecasts for the gauge of the construction industry to show a 1.5 per cent decline in April.
- Attention shifts to the U.S. at 10:00 a.m. with the ISM services report. Expectations are for a May reading of 53.5.
Below, the key earnings announcements scheduled for Tuesday.
Ulta Salon Cosmetics & Fragrance (ULTA): $0.53
Mattress Firm Holding (MFRM): $0.25
Consensus estimates provided by Bloomberg. All times are in Eastern Standard Time.