Economic Calendar: Inflation, GDP and Industrial Output Across the Atlantic (15.05.2025)

08:12 15 May 2025

Today’s economic calendar is exceptionally packed and will be rich in key data from both the Eurozone and the U.S., crucial from a market perspective.

We will hear a series of speeches from European Central Bank representatives and get Eurozone industrial production data, which is expected to rise considerably both year-on-year and month-on-month.

The highlight among central banker statements will be a press conference from Fed Chair Jerome Powell, shortly after U.S. data releases on retail sales, regional manufacturing activity, and jobless claims.

 

Economic calendar for today:

  • 08:50, Eurozone – Speech by ECB’s Elderson

  • 09:00, Poland – April inflation data:

    • CPI forecast: +0.4% m/m (previous: +0.2%)

    • CPI forecast: +4.2% y/y (previous: +4.9%)

  • 09:00, Poland – GDP data:

    • GDP q/q (Q1): previous: +1.3%

    • GDP y/y (Q1): previous: +3.2%

  • 09:00, U.S. – Monthly DOE report

  • 09:30, UK – Labor productivity (Q4): previous: -2.4%

  • 10:00, Eurozone – Labor market data:

    • Employment change q/q (Q1): forecast: +0.1%, previous: +0.1%

  • 10:00, Eurozone – March industrial production:

    • Forecast: +2.5% y/y (previous: +1.2%)

    • Forecast: +1.9% m/m (previous: +1.1%)

  • 10:00, Eurozone – GDP data:

    • GDP q/q (Q1): forecast: +0.4%, previous: +0.2%

    • GDP y/y (Q1): forecast: +1.2%, previous: +1.2%

  • 10:00, Eurozone – EU economic forecasts

  • 10:00, Eurozone – Additional labor market data:

    • Total employment (Q1): previous: 169.4353 million

    • Employment change y/y (Q1): forecast: +0.8%, previous: +0.7%

  • 11:15, Eurozone – Speech by ECB’s de Guindos

  • 13:15, Canada – April housing starts:

    • Forecast: 227.0K (previous: 214.2K)

  • 13:30, Canada – March wholesale sales:

    • Forecast: -0.4% m/m (previous: +0.3%)

  • 13:30, Canada – March manufacturing sales:

    • Forecast: -1.8% m/m (previous: +0.2%)

  • 13:30, U.S. – Jobless claims:

    • Initial claims: forecast: 229K (previous: 228K)

    • 4-week average: previous: 227K

    • Continuing claims: forecast: 1.890M (previous: 1.879M)

  • 13:30, U.S. – April EIA report:

    • Retail sales ex-gas/auto: previous: +0.8% m/m

  • 13:30, U.S. – April inflation data:

    • PPI y/y: forecast: +2.5% (previous: +2.7%)

    • PPI m/m: forecast: +0.2% (previous: -0.4%)

    • Core PPI y/y (ex-food/energy/transport): previous: +3.4%

    • Core PPI m/m (ex-food/energy/transport): previous: +0.1%

  • 13:30, U.S. – April retail sales:

    • Headline: forecast: 0.0% m/m (previous: +1.4%)

    • Year-on-year: previous: +4.6%

    • Core retail sales: forecast: +0.3% m/m (previous: +0.5%)

  • 13:30, U.S. – Philadelphia Fed Manufacturing Index (May):

    • Forecast: -11.3 (previous: -26.4)

  • 13:40, U.S. – Fed Chair Powell’s speech

  • 14:15, U.S. – April industrial production:

    • Forecast: -0.2% m/m (previous: +0.3%)

    • Y/y: previous: +1.34%

    • Capacity utilization: forecast: +0.2% m/m (previous: -0.3%)

  • 15:00, U.S. – March business inventories:

    • Forecast: +0.2% m/m (previous: +0.2%)

  • 15:00, U.S. – March retail inventories excl. autos:

    • Forecast: +0.4% (previous: +0.1%)

  • 15:00, U.S. – NAHB Housing Market Index (May):

    • Forecast: 40 (previous: 40)

  • 18:00, U.S. – GDPNow forecast (Atlanta Fed, Q2):

    • Forecast: +2.3% (previous: +2.3%)

  • 19:05, U.S. – Speech by Fed Vice Chair for Supervision, Barr

  • 21:30, U.S. – Federal Reserve bank reserve balances:

    • Previous: $3.201T

  • 21:30, U.S. – Federal Reserve balance sheet:

    • Previous: $6.711B

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