Report: Important global economic news of this week - TOP 5

Baku. 18 December. REPORT.AZ/ The most important global economic news for the global financial markets on a week from December 18 to December 22 will be announced in the United States, China, UK, Canada and Australia.

Analytical Group of Report News Agency has defined below top 5 economic news that may influence global financial market this week:

1) On December 21 at 5:30 PM Baku time, the final version of the third quarter economic growth in the US will be announced. According to analysts, GDP growth is not expected to change compared to the previous indicator and it is expected that the growth will be 3.3%. Also, during the week, the United States will disclose key indicators such as income and expenses of individuals, the base index of their personal expense, the sale of newly built homes, and the number of construction licenses;

2) Bank of Japan (BoJ) will announce its decision about discount rate on December 21. Analysts do not expect change from BoJ. The focus will be on BoJ Head Haruhiko Kuroda’s press conference after the meeting. The date when BoJ will begin to reduce its monetary stimulus program is one of the important factors;

3) On December 20, at 13:30 GMT the UK Office for National Statistics (ONS) will announce the final version of GDP growth for the third quarter. Analysts predict that in the third quarter the figure will remain at the previous level (0.4%);

4) On December 19, at 13:00 pm, the IFO Research Institute will announce the December index of business confidence in Germany. Analysts are hoping that this figure will rise to a record high of 117.6 points. Also, the Eurozone's inflation forecast for November is expected to be announced (forecast - 1.5%);

5) The GDP of October will be announced in Canada at 5:30 PM Baku time on December 22. Analysts believe it to be 0.2%. In addition, retail and sales figures are expected to be disclosed.