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Thursday heats back up on the economic front, with major announcements out of France, Japan and U.K. In the U.S., markets will be looking to the initial unemployment claims report for any slowdown in job cuts. Here’s what you need to know.
- South Korea starts things off at 7:00 p.m. on Wednesday evening with a final reading of first quarter GDP. There is no consensus for this report, although a previous reading showed 0.9 per cent growth.
- Australian construction follows at 7:30 p.m, with changes in unemployment at 9:30 p.m. The jobless rate is projected to increase 20 basis points in May to 5.1 per cent.
- The Japanese coincident index hits at 1:00 a.m. on Thursday morning, with forecasts for a 20 basis point drop to 96.5 in April.
- At 1:30 a.m., France will release key unemployment figures. Economists forecast mainland unemployment will increase 10 basis points to 9.5 per cent in the first quarter.
- U.K. home prices will be released at 3:00 a.m., with projections for a 0.5 per cent increase month-on-month this May.
- Norwegian industrial production hits at 4:00 a.m.
- It’s back to the U.K. at 4:30 with services PMI. Forecasts are for a slight decline to 52.4 from 53.3.
- At 7:00 a.m. the Bank of England will announce if it is changing its current asset purchase program and key interest rates. Economists anticipate both are left unchanged at £325 billion and 0.5 per cent, respectively.
- Attention shifts to the U.S. at 8:30 a.m. with initial unemployment claims. Projections are for a slight decline to 378,000 from 383,000 a week earlier.
Below, the key earnings announcements scheduled for Thursday.
Navistar International (NAV): $0.71
Francesca’s Holdings (FRAN): $0.18
Pep Boys (PBY): $0.02
Consensus estimates provided by Bloomberg. All times are in Eastern Standard Time.
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