Revisions to America’s 2015 4th Quarter GDP come out on Friday. Growth is expected to be at 0.5% which makes it the slowest in two years. New homes sales numbers have been released and are lower than estimated. Personal consumption expenditures that are used to gauge inflation will be published. Several Federal Reserve figures will give speeches that will help predict the next move the Fed will make and situate the American economy and its various indicators.
The British pound is delivering its poorest performance in international markets since the Financial Crisis after an announcement was made by David Cameron on plans to exit the European Union (EU).
GDP revisions for several European countries including Germany and France will also be released. Inflation statistics from several European countries come out. There is hope that numbers will allow an expectation of German inflation to rise by the years end. Europe will also see Home Affairs Ministers discuss border issues including more stringent controls like policing borders and internal border checks. This could have ramifications for European labour markets in the future.
The second day of the conference will be held in Washington, hosted by the Practising Law Institute.
The Standing Committee of China’s National People’s Congress meets on Wednesday. Steps will be taken in preparation for the annual meeting next month such as agenda setting.
The Mobile World Congress takes place in Barcelona, the world’s biggest mobile events showcasing products and technology from some of the biggest figures in the industry.
Iran will hold parliamentary elections on the 26th of February. Elections for the Assembly of Experts that are the top clerical body also takes place. The Assembly chooses the Supreme Leader of Iran and the next assembly is expected to choose Ayatollah Khamenei’s successor. This comes at a time when the Iranian economy is slowly being opened to the world with particular importance of its oil sector.