Today's announcements and data releases, 25/1/2019
- Economic Calender
- 3 weeks ago
All times in GMT+7, Jakarta, Bangkok
JPY BOJ Outright Bond Purchase 5~10 Years
EUR German IFO Business Climate (JAN)
EUR German IFO Expectations (JAN)
EUR German IFO Current Assessment (JAN)
EUR ECB Survey of Professional Forecasters
GBP BBA Loans for House Purchase (DEC)
GBP CBI Reported Sales (JAN)
GBP CBI Total Dist. Reported Sales (JAN)
USD Durable Goods Orders (DEC P)
The value of orders placed for relatively long lasting goods. Durable Goods are expected to last more than three years. Such products often require large investments and usually reflect optimism on the part of the buyer that their expenditure will be worthwhile.
Because orders for goods have large sway over the actual production, this figure serves as an excellent forecast of U.S. output to come. Durable Goods are typically sensitive to economic changes. When consumers become skeptical about economic conditions, sales of durable goods are one of the first to be impacted since consumers can delay purchases of durable items, like cars and televisions, only spending money on necessities in times of economic hardship. Conversely, when consumer confidence is restored, orders for durable goods rebound quickly. The data is highly volatile as well, some volatility is eliminated with the Durable Goods Orders excluding Transportation figure, making it the more closely watched indicator.
The headline figure is expressed as a percentage change from previous months.
USD Durables Ex Transportation (DEC P)
USD Cap Goods Orders Nondef Ex Air (DEC P)
USD Cap Goods Ship Nondef Ex Air (DEC P)
USD New Home Sales (DEC)
Records sales of newly constructed residences in the United States . The figure is a timely gauge of housing market conditions counting home sales when initial housing contracts are signed. Because New Home Sales usually trigger a sequence of consumption, they have significant market impact upon release. In addition to the high expenditure of the new home, buyers are likely to spend more money on furnishing customizing and financing their home. Consequently, growth in the housing market spurs more consumption, generating demand for goods, services and the employees who provide them.Generally the housing market is tracked by a number of reports that mark different stages of the construction and home sale process. The first stage is Building Permits, which precede Housing Starts, which lead to Construction Spending, MBA Mortgage Applications and, finally, New Home Sales and Existing Home Sales. As the headline housing figure, New Home Sales are believed to control for some of the volatility of other data. For instance, Building Permits and Housing Starts are considered more indicative of business confidence and production rather than consumer spending. And while Existing Home Sales figures are more indicative of consumer expenditures, they are lagging indicators with less predictive value. New Home Sales numbers are considered confirmatory of housing trends and still predictive of consumer spending. New Home Sales is also a good indicator of economic turning points due to its sensitivity to consumer income. Buying a house is always a major expenditure, typically only undertaken when consumers have sufficient savings or are optimistic about future earnings. Historically, when economic conditions slow, New Home Sales are one of the first indicators to reflect the change. By the same token, New Home Sales undergo substantial growth when the economy has emerged from recession and wages have begun to pick up.
USD New Home Sales (MoM) (DEC)