Several important indicators will come out from the US, including its trade balance, automobile sales, and the employment rate. Most indicators seem to be positive with an increase in payroll numbers, factory orders and automobile sales. The downward trend of manufacturing is expected to reach its trough and then raise again afterwards. The trade deficit is expected to increase only slightly.
China’s National People’s Congress, one of China’s most important meetings, will take place this week where economic targets, most importantly, the budget and the targeted GDP are set. This year’s NPC consists of 2,943 party chiefs, government officials, company executives and military commanders hailing from 35 constituencies. Members include everyone from so-called model workers to President Xi Jinping. A five-year development plan is also expected to be announced. The proceedings may provide crucial details on how the government plans to control a slow down in growth while avoiding the dreaded “middle-income trap”.
Canada released its Q4 economic results on March 3rd. Real GDP grew o.6%, following a 0.8% gain in the third quarter. Consumption rose 0.5%. Exports of goods and services fell 0.4% after increasing 2.2% in the previous quarter. The terms of trade, measured by export prices relative to import prices, weakened for the third consecutive quarter.
Brazil’s Central Bank kept the country’s interest rate unchanged as expected given the economic and political troubles the country is facing at this time. The country will also report its GDP growth for 2015 and the number is expected to be negative. The country is also experiencing soaring inflation and the worst economic recession in more than a century.
The Geneva Motor Show opens this week showing cars and industry products and firms.