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  • Calendar event / Thursday at 23:50 GMT
    High Industrial Output (on month)
    Med Inventory-Shipments Ratio (on month)
    Med Shipments (on month)
    Med Inventories (on month)
    Med Companies Forecast Ind Output In Following Month
    Med Companies Forecast Ind Output Two Months Later
  • Squawk / 18 February 2015 at 14:20 GMT
    Head of Macro Strategy / Saxo Bank
    US industrial production climbs less than expected in January:

    Industrial production gained 0.2% m/m last month, missing a consensus estimate of 0.3%, and helped by a revision to December's data, which now shows a drop of 0.3% vs. a drop of 0.1% initially.

    Manufacturing output, which is roughly 75% of total production, gained 0.2% vs. 0.4% expected following a 0.3% gain in December. Utilities recovered some of the 6.9% loss in output in December with a 2.3% increase last month, while mining recorded a 1% drop in activity.

    Next up from the US we have FOMC minutes at 19:00 GMT.
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  • Editor’s Picks / 18 February 2015 at 0:39 GMT

    Time to debunk myth that falling populations hurt GDP

    Business Spectator
    The populations of most European countries will decline in the next generation. Indeed, birthrates are falling worldwide. The process is driven by urbanisation. In agricultural societies, children are a productive asset, but they are massive consumers in mature urban societies. There are fears that this trend spells disaster, as working age populations shrink, and retirees burden the young with debt. But there is no reason to think GDP will fall along with population. Improving productivity should mitigate this. And the shortage of capital and surplus of labour seen since the dawn of the industrial era will be reversed, making money cheaper and labour increasingly expensive. So while the population decline will transform economies, it will not spell catastrophe.
    Read article on Business Spectator
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  • Calendar event / 16 February 2015 at 4:30 GMT

    JP Revised Industrial Production

    Med Revised Industrial Output (on month)
    Med Revised Shipments (on month)
    Med Revised Inventories (on month)
    Med Factory Operating Ratio (on month)
  • Calendar event / 12 February 2015 at 10:00 GMT

    EU Industrial Production

    High Industrial Output Monthly
    Med Industrial Output Yearly
  • Calendar event / 10 February 2015 at 9:00 GMT

    IT Industrial Production

    Low Industrial Output Monthly
    Low Industrial Output Yearly
  • Article / 10 February 2015 at 6:01 GMT

    3 Numbers: UK production slows, US business optimism, US jobs

    editor/analyst /
    United States
    3 Numbers: UK production slows, US business optimism, US jobs
    Today’s update on UK industrial activity will be closely watched for clues of economic weakness ahead of Thursday’s inflation report from the BoE. However, a modestly slower annual gain is expected. Across the Atlantic a new post-recession high is predicted for US small-business sentiment while December's job openings are also on track to reach new highs.
    Read the article
  • Squawk / 06 February 2015 at 8:25 GMT
    Head of Macro Strategy / Saxo Bank
    Spanish industrial production decline 0.3% m/m in December:

    The euro area's fourth-largest economy has seen industrial production growth turn negative in recent months. This trend was confirmed in today's report covering December when industrial output dropped 0.3% m/m (the third consecutive monthly drop) and went even further into negative growth on a year-on-year basis at -0.9%, down from -0.3%.

    However, PMI manufacturing does not support the current drop in industrial output and neither do the general state of the economy, so for now I'm inclined to rule it a temporary slowdown driven mainly by a decline in energy output (note also that factory orders are growing).
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  • Calendar event / 06 February 2015 at 7:00 GMT

    DE Industrial Production Index

    High Industrial Output (Adjusted) MoM
    Med Industrial Output (Adjusted) YoY
    Med Construction Output Pct Chg MoM
    Med Manufacturing Output Pct Change MoM
  • Squawk / 03 February 2015 at 15:04 GMT
    Head of Macro Strategy / Saxo Bank
    US factory orders decline for a fifth straight month in December:

    Factory orders dropped 3.4% m/m in December, worse than expected by consensus (-2.4%), and the fifth consecutive negative monthly print. And to make things worse November was revised lower to -1.7% from -0.7%.

    Durable goods orders declined 3.3% in December while non-durables tumbled 3.4% and end the second half of 2014 down no less than 7.5%.

    We expect the US economy to be driven by private consumption and housing investment this year while the contribution from non-residential investment will be negligible.
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