Next Week’s News Today: It’s Christmas

There could be a great deal of hand-wringing next week, as the market digests a raft of US economic news ahead of the festive break. Yes, it is Christmas Day on Friday!

But ahead of the Yuletide celebrations, the US Bureau of Economic Analysis will release its final numbers for Corporate Profits in the third quarter. At the last count, Corporate Profits, which is one of the most closely-watched indicators on the health of US Inc., decreased from US$1,534 billion to US$1,508 billion in the previous quarter.

Elsewhere, the final count for US economic growth in the third quarter will be revealed. According to the second estimate, the American economy grew at an annualised rate of around 2.1% in the three months to September. Personal spending data will also be on tap next week. Anything better than anaemic could be welcomed.

On the other side of globe, close attention could be paid to Japan’s inflation numbers. In October, the core inflation came in at minus 0.1%. The headline inflation rate, on the other hand, rose 0.3%. The rise was attributed to higher food costs while fuel costs fell at a slower pace.

Closer to home, Singapore’s stubbornly low rate of inflation will be on tap. Consumer prices dropped 0.8% in October as a result of a faster decline in housing and utilities, while food prices remained steady. Core inflation, however, rose 0.3% compared to a year ago.

Staying in Singapore, the industrial production numbers have been poor in the Garden City for a number of months. Some of the weakest sectors include electronics, transport engineering, biomedical and precision engineering.

And finally, Friday is Christmas Day, which means that the Singapore Stock Exchange will be closed. It also means another long weekend!

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