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Closing out the week is a big data day in China, as the country reports first quarter GDP. In the U.S., readings of inflation and consumer confidence will feed markets. Earnings season heats up as well, with quarterly reports out of J.P. Morgan and Wells Fargo. Here’s what you need to know.
- South Korea starts things off at 8:00 p.m. on Thursday evening with the release of monetary policy minutes from the Bank of Korea.
- Major readings out of China follow at 10:00 p.m., including reports on gross domestic product and industrial production. Economists polled by Bloomberg are looking for a 1.9 per cent sequential expansion during the first quarter of 2012. That is slightly slower than the 2.0 per cent gain logged previously. Industrial production is seen gaining 11.6 per cent year-on-year in March.
- German consumer prices are set for release at 2:00 a.m. on Friday morning. Consensus is for a 0.3 per cent sequential increase in March.
- Spanish consumer prices follow at 3:00 a.m., with expectations for a 2.2 per cent month-on-month gain in March.
- Italian industrial production hits at 4:00 a.m., with forecasts for a 0.7 per cent year-on-year decline in February.
- U.K. PPI follows at 4:30 a.m. Input non seasonally adjusted figures are seen increasing 1.4 per cent month-on-month.
- Attention shifts to the Americas at 8:00 a.m. with Brazilian retail sales. Economists anticipate sales declined 0.3 per cent in February from a month earlier.
- At 8:30 a.m. a reading of consumer prices in the U.S. will be released. CPI is forecast to increase 0.3 per cent month-on-month in March. Excluding food and energy, the index is expected to increase 0.2 per cent.
- Closing out the day in the U.S. is the preliminary University of Michigan Consumer Confidence Report. Economists anticipate no change in the April reading, with the key figure remaining at 76.2.
Below, the major earnings announcement scheduled for the day.
J.P. Morgan Chase (JPM): $1.18
Wells Fargo (WFC): $0.73
Consensus estimates provided by Bloomberg. All times are in Eastern Standard Time.
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