Upcoming macroeconomic events, August 2017
Do you write or edit portfolio manager commentaries? Do you want to stay on top of the macroeconomic events that shape your day-to-day life as a financial services marketer?
If so, here are the big macro events that the ext. team is keeping an eye on over the coming weeks.
- Europe will announce its consumer confidence and business confidence indicators on August 30. Both indicators fell in July. Consumer and business confidence are key to economic strength. Given that Europe’s economy has been stagnant and largely supported by central bank stimulus measures, improvement in these indicators could go a long way towards signalling a stronger economy
- Canada will announce its real gross domestic product (“GDP”) for the second quarter on August 31. Real GDP measures the value of economic output adjusted for inflation, giving investors an understanding of the overall strength of the Canadian economy. Canada has experienced a recent string of positive economic data which may bode well for its GDP growth
- The Bank of Canada (“BoC”) will announce its interest rate decision on September 6. The BoC raised its benchmark overnight rate by 25 basis points to 0.75% at its last meeting, citing “confidence in its outlook for above-potential growth.” The BoC will continue to monitor economic data as they relate to its inflation outlook and uncertainties surrounding the global economy
- U.S. inflation rate for August will be announced on September 14. Inflation has been on a steady decline during 2017, led by slower growth in energy costs. The inflation rate will be an important factor in the U.S. Federal Reserve Board’s interest rate decisions
- Canada’s inflation rate for August will be announced on September 22. This will be an important measure as the BoC contemplates further rate increases. The BoC believes that soft inflation figures are temporary and it expects inflation to return closer to the 2% level in 2018