The week beginning April 17 is packed with important national and global macroeconomic events that could have an impact on trading on Dalal Street. In India, WPI inflation readings for the month of March will be released. Additionally, figures for bank loan growth and deposit growth data will be released. The monthly Purchasing Managers' Index (PMI) readings for Manufacturing and Services for March from key economies like the US, the UK, and the Eurozone are also part of the economic reports that will be released the coming week. Retail sales and unemployment data are two other economic figures that will be released from the UK in the upcoming week. From China, the first quarter GDP data, industrial production, unemployment rate and retail sales reports for March will be out. From the UK, Eurozone, and Japan March CPI data releases are significant. Also, in the upcoming week, industrial oroduction and trade data will come out from Japan. The results for the fourth quarter of FY23 will be announced in India by ICICI Lombard General Insurance Company, HCL Tech, ICICI Prudential Life Insurance, Hindustan Zinc, ICICI Bank, and YES Bank, among others. A number of well-known companies, including Tesla, Netflix, Goldman Sachs, Abbott, and Morgan Stanley, will release earnings reports in the US. Let's take a look at the key economic data releases. Know the macroeconomic data from the past month for the major economies as well. The following are the key economic data releases scheduled for the week beginning April 17, 2023: April 17 (Monday) India Wholesale Price Index (WPI) Inflation data (March) India's March inflation based on the Wholesale Price Index (WPI) will be out on Monday. India's annual rate of inflation based on all India Wholesale Price Index (WPI) is 3.85 percent (Provisional) for the month of February 2023 (over February, 2022) against 4.73 percent in January 2023. China GDP Q1 On Monday, figures for China's first quarter gross domestic product will be released. According to data released by the National Bureau of Statistics on January 16, China's economy in the fourth quarter expanded by 2.9 percent year over year. During this quarter, there were strict zero-COVID policy rules. In December 2022, the strict anti-virus legislation was abruptly dropped, and economists anticipate a recovery in growth. China Industrial Production (March) The data on China's industrial production for March will also be of interest to the international markets. An essential economic indicator, China's industrial output increased by 2.4 percent year over year in the first two months of 2023, according to statistics from the National Bureau of Statistics (NBS) on March 15. (Other important data releases on Monday: India WPI Food (March), India WPI Manufacturing Inflation (March), India WPI Fuel (March), China Unemployment Rate (March), China FDI, China Retail Sales (March), RBA Meeting Minutes) April 18 (Tuesday) UK Unemployment Rate (Feb) At 3.7 percent, the unemployment rate from November 2022 to January 2023 remained essentially stable from the previous quarter. In the period from November 2022 to January 2023, the rate of economic inactivity fell by 0.2 percent from the previous quarter, to 21.3 percent. April 19 (Wednesday) UK CPI, Core CPI (March) On Wednesday, the UK's March Consumer Price Index (CPI) and Core CPI data will be released. The Consumer Price Index (CPI) increased from 10.1 percent in January to 10.4 percent in the 12 months leading up to February 2023. CPI increased by 1.1 percent on a monthly basis in February 2023 vs 0.8 percent in February 2022. In February 2023, the core inflation rate excluding price changes in food and energy was 6.2 percent, up from 5.8 percent the month before. Eurozone CPI, Core CPI (March) On Wednesday, inflation numbers in the Eurozone will be made available by Eurostat, the Central Statistics Office (CSO) of the European Union. The MoM Consumer Price Index for the Eurozone is currently at 0.899, up from 0.8065 the month before. In March 2023, annual inflation in the Eurozone is projected to be 6.9%, down from 8.5% in February, according to a flash estimate from Eurostat, the European Union's statistical office. Other important data releases on Wednesday: India M3 Money Supply, Japan Industrial Production (Feb), Japan Exports, Imports, Trade Balance (March), China PBoC Loan Prime Rate) April 20 (Thursday) Japan National CPI, Core CPI (March) Estimates for the March CPI, a measure of inflation that tracks changes in consumer prices for a variety of products and services in Japan, are due on Thursday. In February 2023, Japan's annual inflation rate fell to 3.3% in February 2023 from January's 41-year high of 4.3%. The core consumer price index increased 3.1% from a year earlier in February, slowing from the 41-year high of 4.2% witnessed in January. (Other important data releases on Thursday: Eurozone Trade Balance (Feb), Eurozone Consumer Confidence (April), US Initial Jobless claims, Japan Manufacturing PMI (April)) April 21 (Friday) UK Services PMI, Manufacturing PMI, Composite PMI In March 2023, the S&P Global/CIPS UK Services PMI registered at 52.9, which was lower than the final figure of 53.5 for February. A seasonally adjusted manufacturing PMI for March 2023 dropped from February's reading of 49.3 to 47.9. US Services PMI, Manufacturing PMI, Composite PMI (April) Preliminary From 50.6 in February to 52.6 in March, the seasonally adjusted final S&P Global US Services PMI Business Activity Index increased. The S&P Global US Manufacturing Purchasing Managers' Index (PMI), which is seasonally adjusted, increased to 49.2 in March from 47.3 in February. Eurozone Services PMI, Manufacturing PMI, Composite PMI (April) Preliminary After reading 48.5 in February, the S&P Global Eurozone Manufacturing PMI registered 47.3 in March. The Euro Area's services PMI rose to 55 points in March from 52.7 in February. India Bank Loan Growth and Deposit Growth According to figures from the Reserve Bank of India (RBI), bank credit increased by 15% year over year (YoY) in 2022–23 (FY23), compared to 9.6% YoY in 2021–22 (FY22). Credit growth in FY23 is at its highest level since 2011–12, when it reached 19.3%. In FY23, bank deposits increased 9.58% YoY, compared to 8.9% YoY growth in the prior fiscal year (FY22). Earnings Watch Week ahead earnings calendar in India and the US In India, a number of companies including these are scheduled to release their Q4 earnings. Earnings reports by Hathway, JustDial, Quick Heal Technologies, Network 18 (April 17); Crisil, ICICI Lombard General Insurance Company, Vivanta Industries (April 18); Tata Communications, Mastek (April 19); HCL Tech, ICICI Prudential Life Insurance, Cyient (April 20); Aditya Birla Money, Hindustan Zinc (April 21); ICICI Bank, YES Bank (April 22) are awaited. In the United States, major companies such as Pinnacle Financial, Sify Technologies, Amcon, (April 17); Johnson & Johnson, Bank of America, Goldman Sachs, Netflix, Ericsson, Omnicom, Lockheed Martin, United Airlines (April 18); Tesla, Abbott, Morgan Stanley (April 19); Philip Morris, AT&T, American Express, Blackstone, Nokia, Xerox (April 20); Procter & Gamble (April 21) will release their quarterly reports. (With inputs from Agencies)
Key events next week: India WPI, China Q1 GDP; UK, Eurozone & Japan CPI, and Q4 earnings - Moneycontrol
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