What to Watch in The Day Ahead; Friday, May 30
(The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at . Thomson One users can register at RT/DAY/US. All times in ET/GMT) Federal Reserve Bank of Cleveland President Sandra Pianalto is scheduled to give the welcome address on the final day of the Inflation, Monetary Policy, and the Public conference. (0830/1230) Also speaking at the luncheon is the incoming Federal Reserve Bank of Cleveland President Loretta Meister. (1230/1630) Federal Reserve Bank of Richmond President Jeffrey Lacker is scheduled to participate in a discussion before the Hoover Institution Conference in California. (1400/1800) Federal Reserve Bank of Philadelphia President Charles Plosser and Federal Reserve Bank of San Francisco President John Williams also speak. (1700/2100) The U.S. Department of Commerce is expected to report that consumer spending increased 0.2 percent after jumping 0.9 percent in March. Meanwhile, the data for personal income is likely to show an increase of 0.3 percent in April. (0830/1230) Canada's first-quarter GDP is expected to show a 1.8 percent annualized growth rate after the 2.9 percent registered in the fourth quarter of last year. A weather-induced fall in December provided a limp hand-off into the new year, and though January gained back December's loss the economy has been struggling to show substantial growth since before the bad weather. March GDP is seen having grown only by 0.1 percent from February. The 1.8 percent quarterly growth figure nonetheless exceeds the 1.5 percent forecast the Bank of Canada made last month. (0830/1230) Separately, Statistics Canada is scheduled to release producer prices data for April, which is expected to show that manufacturers' prices remained unchanged from March. (0830/1230) Brazil's statistics agency IBGE is scheduled to release first-quarter GDP data. The country's economic growth rate probably slowed to 0.2 percent in the first quarter as investments slowed and factories cut back on production, burying hopes that a surprise rebound in late 2013 could turn into a steady recovery. (0800/1200) Also on the radar is the central bank's release of its monthly report on the federal budget. The country's primary surplus in April will be the key to determining whether the government is on track to meet its fiscal goal this year. Many analysts doubt that the government can meet its primary surplus goal of 2-2.5 percent of GDP this year as tax revenues continue to disappoint and public spending remains high. (0930/1330) (Compiled By Ayesha Sruti Ahmed in Bangalore)
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