Except for inflation figures, it’s set to be a quiet week on the Australian economic data front, but there are a number of important indicators from overseas including the all-important growth data for China.
China will be the main focus on Monday with December quarter gross domestic product growth expected to have slowed to 7.6 per cent from 7.8 per cent in the September quarter, and data for retail sales, industrial production and fixed asset investment slowing marginally, said Shane Oliver, chief economist and head of investment strategy at AMP Capital.
The US December quarter earnings reporting season will also heat up, with about 70 companies reporting including Microsoft, IBM, Delta Air Lines and McDonald’s. House price released on 23 January will be closely watched by observers studying the strength of the US housing market.
In Australia, expect December quarter inflation data (Wednesday) to remain benign with a slight fall in petrol prices and seasonal weakness in health and education costs holding the headline CPI down to 2.3 per cent year on year, said Oliver.
Written by an AB+F Journalist.