Weekly Outlook: The Yuan and GDP

 

The Chinese government’s devaluation of the yuan coupled with weak PMI data recently brought on concerns regarding the country’s capacity to recover from an economic slowdown. Last week’s release of disappointing manufacturing figures only fueled existing worries, contributing to a decline in oil prices and a selloff in stocks around the world. This week’s release of GDP numbers in China, the U.S., and Great Britain will be telling for the state of the global economy.

 

Economic Calendar

Monday:

Chicago Fed National Activity Index 8:30 AM ET

Atlanta Federal Reserve Bank President Dennis Lockhart Speech 3:55 PM ET

 

Tuesday:

FHFA House Price Index 9:00 AM ET

S&P Case-Shiller HPI 9:00 AM ET

New Home Sales 10:00 AM ET

State Street Investor Confidence Index 10:00 AM ET

Richmond Fed Manufacturing Index 10:00 AM ET

Consumer Confidence 10:00 AM ET

 

Wednesday:

PMI Services Flash 9:45 AM ET

 

Thursday:

China Gross Domestic Product 1:45 AM ET

Kansas City Fed Jackson Hole Symposium (Thurs. – Saturday)

U.S. GDP 8:30 AM ET

Pending Home Sales Index 10:00 AM ET

Kansas City Fed Manufacturing Index 11:00 AM ET

 

Friday:

Great Britain GDP 4:30 AM ET

Consumer Sentiment 10:00 AM ET

 

Links

Cheap production, over-investment and the long-run outlook for commodities (Economist)

The U.S. joins in on a global stock selloff (Bloomberg)

What a devalued yuan means for Chinese trading and consumption (Quartz)

Is public debt good for the economy? (New York Times)

This year’s corn crop could break records (Corn & Soybean Digest)

U.S. oil prices respond to Chinese manufacturing data (Reuters)

Four factors causing global economic concern (The Guardian)

How Tesla will disrupt the auto industry like Ford 100 years ago (Quartz)

 

 

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