Economic calendar: Will PPI validate inflation optimism? (13.03.2025)

After yesterday’s U.S. CPI report, investor attention now shifts to the producer price index (PPI) reading. The brief optimism over lower-than-expected CPI will be tested today as markets anticipate an increase in key PPI components, with price pressures in business already evident in recent ISM reports. Manufacturers have previously raised concerns about trade-related uncertainty, higher material costs, and declining orders.

In Europe, industrial production data will be released, with a month-on-month rebound expected to support ECB President Christine Lagarde’s narrative of solid economic fundamentals for the Eurozone’s recovery. Lagarde herself will speak today at a KfW Bank meeting in Frankfurt.

Economic calendar for Thursday

07:30 AM GMT, Switzerland - Inflation Data for February:

• PPI: forecast 0.2% MoM; previous 0.1% MoM;

• PPI: previous -0.3% YoY;

09:00 AM GMT, United States - IEA Monthly Report

09:50 AM GMT, Euro Zone - ECB's De Guindos Speaks

10:00 AM GMT, Euro Zone - Industrial Production for January:

• Industrial Production: forecast 0.5% MoM; previous -1.1% MoM;

• Industrial Production: forecast -0.9% YoY; previous -2.0% YoY;

12:30 PM GMT, United States - Inflation Data for February:

• PPI ex. Food/Energy/Transport: previous 3.4% YoY;

• PPI ex. Food/Energy/Transport: previous 0.3% MoM;

• PPI: forecast 3.3% YoY; previous 3.5% YoY;

• PPI: forecast 0.3% MoM; previous 0.4% MoM;

12:30 PM GMT, United States - Employment Data:

• Jobless Claims 4-Week Avg.: previous 224.25K;

• Continuing Jobless Claims: forecast 1,900K; previous 1,897K;

12:30 PM GMT, United States - Inflation Data for February:

• Core PPI: forecast 0.3% MoM; previous 0.3% MoM;

• Core PPI: forecast 3.6% YoY; previous 3.6% YoY;

12:30 PM GMT, Canada - Building Permits for January:

• forecast -5.3% MoM; previous 11.0% MoM;

12:30 PM GMT, United States - Employment Data:

• Initial Jobless Claims: forecast 226K; previous 221K;

05:00 PM GMT, Germany - German Buba Balz Speaks

05:00 PM GMT, Euro Zone - ECB President Lagarde Speaks

05:00 PM GMT, United States - 30-Year Bond Auction:

• previous 4.748%;

05:30 PM GMT, Germany - German Buba President Nagel Speaks

09:30 PM GMT, United States - Fed's Balance Sheet:

• previous 6,757B;

09:30 PM GMT, New Zealand - PMI Data for February:

• Business NZ PMI: previous 51.4;

09:30 PM GMT, United States - Reserve Balances with Federal Reserve Banks:

• previous 3.381T;