HONG KONG, June 13 /Xinhua-PRNewswire/ --
Chinese residential investment to ease on inflation battle
Data on residential investment across Chinese urban areas is due on Monday 16th. The data should provide further confirmation that ongoing measures to curb liquidity are taking their toll on Chinese real estate.
Chinese inflation has risen sharply over the last year on the back of rising food, commodity and fuel prices. The latest reading for May shows inflation running double the pace of a year ago at 7.7%.
Some moderation in business investment may be in the offing, however, which could temper growth.
Euro area construction output to follow Germany
Aggregate euro area construction output data for April is due to be released on Wednesday 18th. On a seasonally adjusted basis, the level of output reached an all time high in February but has since fallen by 2.9%. The largest factor behind the drop in output in March was the performance of Germany, where output fell by 13.1% on the month.
Looking forward, construction output in the euro area is likely to slow further in the coming months.
Gloom amongst US home builders set to continue
The American home building sector is in focus next week with the National Association of Home Builders Survey for June released on Monday 16th, along with building permits and housing starts released on Tuesday 17th.
Swiss interest rate decision too close to call
The Swiss National Bank meets on Thursday 19th to determine its key policy tool, the three month Libor target. This has been fixed at 2.75% since September last year. SNB Chairman Roth recently suggested that the Swiss residential real estate market was likely to cool this year. However, he was emphatic in stating that there were no signs of a speculative bubble that could lead to "a sharp fall in house prices".
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