Key events next week: India WPI, UK CPI, China Q4 GDP, BoJ rate decision, India Q3 and US Q4 results

Ahead of the December data releases, take a look at how the previous month's macroeconomic data (November) for major economies such as India, the United States, the United Kingdom, China, and Japan looked:

Here's the schedule of the key economic data releases for the week beginning January 16:

January 16 (Monday)

India WPI data December

Wholesale price inflation (WPI) data for December 2022 will be released in India on January 16 (Monday).

India's wholesale inflation fell to a 21-month low of 5.85 percent in November. At 5.85 percent, the latest Wholesale Price Index (WPI) inflation figure is a huge 470 basis points lower than what it was just two months ago. WPI inflation stood at 8.39 percent in October.

India's headline retail inflation (CPI) rate eased to a one-year low of 5.72 percent in December from 5.88 percent in November.

WEF begins in Davos, Switzerland

The World Economic Forum (WEF) will hold its annual meeting at Davos in Switzerland from January 16 to 20. The event will bring together world leaders from government, business, and civil society to discuss the year's priorities. The five-day meeting is centered around the theme 'Cooperation in a Fragmented World'. Read about the key issues that will be discussed at the Forum, here.

January 17 (Tuesday)

UK Unemployment Rate November

The latest unemployment report will be out on January 17 (Tuesday) from the UK. The unemployment rate for August to October 2022 increased by 0.1 percentage points on the quarter to 3.7%. In this three-month period, the number of people unemployed for up to six months increased, according to the data released by Office for National Statistics (ONS).

China Q4 GDP

All eyes will be on China next week as its GDP growth data for fourth quarter will be out. China's economy grew 3.9 percent year-on-year in the third quarter ending September 2022.  Beijing's zero-Covid policy in the earlier months continues to weigh heavily on its economy.

China Retail Sales December

Retail sales fell 5.9% amid broad-based weakness in the services sector, also the biggest contraction since May 2022.

January 18 (Wednesday)

UK CPI December

UK inflation numbers measured by the Consumer Prices Index (CPI) index will be released by the Office for National Statistics (ONS) on January 18 (Wednesday). UK CPI eased to 10.7 percent in November from October's 41-year peak, data showed.

The Bank of England’s monetary policy committee is likely to be influenced by the CPI data when it meets on February 2.

US Retail Sales December

The US Census Bureau releases its December Retail Sales report on January 18 (Wednesday). US retail sales fell fell 0.6 percent last month, the biggest drop since December 2021, after an unrevised 1.3 percent jump in October. This was the biggest drop since December 2021.

Bank of Japan interest rate decision

Japan’s central bank, the Bank of Japan, holds its monetary policy meeting on January 18 (Wednesday). There will be a decision on interest rate. BoJ’s policy meet will be closely watched as it had tweaked its YCC policy in its last meeting to raise cap on benchmark 10-year yields to around 0.5 percent from 0.25 percent.

The move sent the yen surging. BoJ Governor Haruhiko Kuroda is set to leave his post in April.

January 20 (Friday)

Japan CPI December

Japan’s consumer price index (CPI) which measures headline inflation will come on January 20 (Friday). The inflation rate in Japan edged up to 3.8% in November 2022 from 3.7% in October.

Earnings reports from India, US and UK in the upcoming week

In India, earnings reports will come out from Bank of Maharashtra, Federal Bank, JSW Ispat Special Products, Kesoram industries (January 16); Bank of Inda, ICICI Prudential Life Insurance, TV18 Broadcast, Network18, Hathway, ICICI Lombard, Metro Brand (January 17); IndusInd Bank, Persistent Systems, Central Bank of India, Rallis India (January 18); Asian Paints, AU Small Finance Bank, Havells India, Hindustan Unilever, Hindustan Zinc, ICICI Securities, MPhasis, Policab, PVR (January 19); Reliance Industries, Bandhan bank, HDFC Life, Union Bank of India, JSW Energy, JSW Steel, Petronet LNG (January 20); and ICICI Bank, IDFC First Bank, Kotak Mahindra Bank, SBI Life, UltraTech Cement, Yes Bank and Indian Bank (January 21).

In the US, earnings reports from Goldman Sachs, United Airlines, Morgan Stanley (January 17), Netflix, and Procter & Gamble (January 19) are eagerly awaited. In the UK, quarterly statements are due from Ocado, Burberry (Q3), WH Smith (January 18), and Deliveroo (January 19).