The Week Ahead: It’s Christmas

There is a definite Christmas feel in the air. Many US agencies will be winding down in preparation for the festive break. Its economic diary is looking quite bare.

That said, America is likely to confirm that it grew 1.6% in the third quarter, compared to the same quarter a year ago. It looks as though the US economy is chugging along nicely, rather than steaming ahead energetically.

There is a distinct holiday feel in the Eurozone too, with barely a handful of economic statistics to excite market watchers. Of marginal interest could be wage growth in the Euro Area. In the second quarter, wages increased 0.9%, which was the smallest gain in six years.

It appears that China has also been gripped by the Yuletide spirit. The only statistic of note will be the November’s house price data. In October, house prices jumped 12.3% year on year, compared to a 11.2% increase the previous month. Property prices rose an eye-watering 27% in Beijing and 31.1% in Shanghai.

Japan will announce its latest interest-rate decision on Tuesday. The Bank of Japan left interest rates unchanged at minus 0.1% last time, which was widely expected. The next move by Japan’s central bank hangs in the balance, following the US Federal Reserve’s decision to hike rates this week.

Singapore will report inflation numbers for November. There is a chance that the rate of inflation could turn positive after 24 straight months of falls. The rate of decline in October was the smallest fall in two years.

And finally, Sunday 25 December is Christmas day. So have a very merry Christmas. And remember, please don’t drink and drive.

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