Attention will be focused next week on, aside from anything trade-related, the success or otherwise of US Black Friday and Cyber Monday sales, given the US consumer is currently the primary driver of the US economy. There will no doubt also be similar attention paid downunder, as it appears we now also give thanks and cash in.
China will release its November PMIs tomorrow and the rest of the world will follow with manufacturing on Monday and services on Wednesday. PMIs have more recently become even more important as gauges of economic health.
It’s GDP week in Australia, with quarterly numbers for company profits and inventories, the current account and terms of trade to be released ahead of Wednesday’s big reveal. The RBA meets on Tuesday and while a rate cut is not assumed, it is not beyond the realms either.
We’ll also see monthly data for job ads, building approvals, house prices, retail sales and trade in a busy week for economists.
The US will also see jobs numbers, both private sector and non-farm payrolls, along with factory orders, trade and consumer sentiment.
With November out of the way, the local AGM season is all but behind us, with the numbers now slowing to a trickle. TPG Telecom ((TPM)), Nufarm ((NUF)) and Altium ((ALU)) are among the laggards next week.
Metcash ((MTS)) reports earnings on Thursday.
