Economic news this week: UK and U.S. CPI, China GDP, ECB rate decision
The week’s economic calendar provides insight into how the world’s two largest economies are faring. It kicks off with a gauge of U.S. industrial activity, followed by a round of economic data out of China. From Europe comes a report on consumer confidence and a policy decision from the European Central Bank.
MONDAY: The U.S. Federal Reserve releases industrial production figures for September. The drop of 0.4% in August highlighted weak demand for manufactured goods, but economists expect a rebound in September.
TUESDAY: Inflation data for September will shed more light on the state of U.K. economy after the Brexit vote. Analysts see U.K. producers’ input prices rising by 7.4% on the year in September. Consumer price inflation also is expected to accelerate, to 0.9% on the year from 0.6% the previous month. Economists expect that sterling’s recent tumble will boost inflation in coming months, curbing consumer spending.
The U.S. Labor Department reports September’s consumer prices, and economists expect a rise of 0.3%, extending six months without a drop.
