Date
GMT+01:00
Event Previous Forecast Actual
Aug, 18 10:00
★★
ZEW Survey (Econ. Sentiment)
ZEW Survey (Econ. Sentiment)
Country:
Date: Aug, 18 10:00
Importance: Medium
Previous: 23.4
Forecast: 25.4
Actual: -
Period: Aug

The Center for European Economic Research (ZEW), queries financial experts throughout Europe every month in order to make a medium-term forecast about the economic situation. Eurozone ZEW Indicator of Economic Sentiment Assesses future economic expectations for the whole Eurozone. The results are summarized as the number of positive responses minus the number of negative responses. A higher headline figure indicates a positive expectation for Euro-zone economy.

Technical Note on Headline Number : The results of the survey are always presented as the difference between those experts that optimistic and those are pessimistic. For instance if 25 percent of analysts expect improvement, 35 percent expect decline, and 40 percent expect no change, the headline figure is -10.

23.4 25.4 -
Aug, 18 13:15
Housing Starts
Housing Starts
Country:
Date: Aug, 18 13:15
Importance: Low
Previous: 239.0K
Forecast: 249.0K
Actual: -
Period: Jul

Reflects the rate of growth in housing construction. Housing Starts act as an indicator measuring the strength of Canada's construction sector and housing market. Economists also use the figure as a leading indicator for the economy as a whole due to Housing Starts' sensitivity to changes in the business cycle. Housing Starts slow at the onset of a recession and quickly grow at the beginning of an economic boom; consequently, a high Housing Starts figure forecasts strong economic growth.

The headline figure is the percentage change in new home starts.

239.0K 249.0K -
Aug, 18 13:30
★★
Building Permits
Building Permits
Country:
Date: Aug, 18 13:30
Importance: Medium
Previous: 1367K; -3.0%
Forecast: 1370K
Actual: -
Period: Jul

The number of new building projects authorized for construction. The figure is widely used as an indicator for developments in the housing market, since receiving a permit to build is the first step in the construction process. Thus growth in Building Permits reflects growth in the construction sector. Also, due to the high outlays needed for construction projects, an increase in Building Permits suggests corporate and consumer optimism. Additionally, because leading indicators for the housing market respond quickly to changes in the business cycle, the Building Permit figure can act as a leading indicator for the economy as a whole.

The headline is the seasonally adjusted percentage change in Building Permits from the previous month.

1367K; -3.0% 1370K -
Aug, 18 13:30
★★
Housing Starts
Housing Starts
Country:
Date: Aug, 18 13:30
Importance: Medium
Previous: 1427K; 19.0%
Forecast: 1350K
Actual: -
Period: Jul

Gauges the change in the number of new houses built in the United States. Housing Starts are one of the earliest indicators of the housing market, only trailing Building Permits in timeliness.

Because high outlays are needed to start construction projects, an increase in Housing Starts implies an increase in investment and business optimism. Finally, the Housing Starts figure gives insight into consumer activity, since new home purchases typically require a large investment for consumers. Given such connections to consumer and corporate sentiment, real estate generally leads economic developments. A sharp drop in new home construction is a warning signal of economic slowdown. Conversely, a rebound in the Housing Starts paves the way for economic recovery.

Housing Starts data is differentiated by building types (single family houses, 2 to 4 residence units and 5 or more residence units). The single family housing starts is a more reliable economic indicator than multi family housing starts, as single family house building is driven by demand and consumer confidence, whereas multi family house building is more often motivated by speculative real estate investors. The report headline is expressed in volume of houses built. The figures are in the thousands of units.

1427K; 19.0% 1350K -
Aug, 18 13:30
Import price index
Import price index
Country:
Date: Aug, 18 13:30
Importance: Low
Previous: 0.3%; 7.1%
Forecast: 0.1%
Actual: -
Period: Jul

This index reflects import price change per month.

0.3%; 7.1% 0.1% -