Week Ahead Watch List

Chinese GDP opens the week and slowing is once again expected, to 5.2 percent yearly growth for the third quarter that would compare with 7.9 percent in the second quarter. Chinese industrial production and retail sales, both for September, will also be released Monday. PMI flashes for the month of October will cap the week on Friday with mid-50 readings, whether for France or the UK and whether for services or manufacturing, sweeping the forecasts with, however, one exception: a lone 60 score is the call for US manufacturing. The Beige Book on Wednesday will update the overall US assessment heading into November's Federal Reserve meeting, while jobless claims on Thursday will offer a glimpse of what to expect for October's monthly employment report. Industrial production on Monday and housing starts on Tuesday round out the US calendar. Canada will update housing starts on Monday and retail sales on Friday; Japan will update merchandise trade on Tuesday and post consumer prices on Thursday. Consumer prices in the UK, which will offer a key input for Bank of England policy, will be posted on Wednesday with UK retail sales out on Friday. Producer prices from Germany, which have been greatly overheated, will be posted on Wednesday and will be an especially important highlight of the week's calendar. Sentiment data will be limited to the EC consumer confidence flash and the French business climate indicator both on Thursday.