Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI DATA FORECASTS: Flash PMIs In Market's Eyesight

(MNI) LONDON

Forecasts for the coming week's main data releases.

True

Date	GMT/Local	Impact	Period	Flag	Country	Release	Prior	Consensus
22/05/2023	0900/1100	**	Mar		EU	Construction Prod m/m	2.3	--	%
22/05/2023	0900/1100	**	Mar		EU	Construction Prod y/y WDA	2.3	--	%
22/05/2023	1400/1600	**	May		EU	Consumer Confidence (p)	-17.5	-16.5
22/05/2023	1530/1130	*	26-May		US	Bid to Cover Ratio	--	--
22/05/2023	1530/1130	*	26-May		US	Bid to Cover Ratio	--	--
23/05/2023	2300/0900	***	Apr		AU	Judo Bank Composite PMI (p)	53.0	--
23/05/2023	2300/0900	***	Apr		AU	Judo Bank Manufacturing PMI (p)	48.0	--
23/05/2023	2300/0900	***	Apr		AU	Judo Bank Services PMI (p)	53.7	--
23/05/2023	0030/0930	**	May		JP	Jibun Bank Flash Composite PMI	--	--
23/05/2023	0030/0930	**	May		JP	Jibun Bank Flash Manufacturing PMI	--	--
23/05/2023	0030/0930	**	May		JP	Jibun Bank Flash Services PMI	--	--
23/05/2023	0600/0700	***	Apr		UK	Central Govt Net Cash Requirmt	25.049	--	GBP (b)
23/05/2023	0600/0700	***	Apr		UK	Public Sector Net Borrowing	20.709	--	GBP (b)
23/05/2023	0715/0915	**	May		FR	S&P Global Services PMI (p)	54.6	54.0
23/05/2023	0715/0915	**	May		FR	S&P Global Manufacturing PMI (p)	45.6	46.0
23/05/2023	0730/0930	**	May		DE	S&P Global Services PMI (p)	56.0	55.0
23/05/2023	0730/0930	**	May		DE	S&P Global Manufacturing PMI (p)	44.5	45.0
23/05/2023	0800/1000	**	Mar		EU	EZ Current Acc	24.3	--	E (b)
23/05/2023	0800/1000	**	May		EU	S&P Global Services PMI (p)	56.2	55.7
23/05/2023	0800/1000	**	May		EU	S&P Global Manufacturing PMI (p)	45.8	45.8
23/05/2023	0800/1000	**	May		EU	S&P Global Composite PMI (p)	54.1	53.3
23/05/2023	0830/0930	***	May		UK	S&P Global Manufacturing PMI (f)	47.8	48.0
23/05/2023	0830/0930	***	May		UK	S&P Global Services PMI (p)	55.9	55.5
23/05/2023	0830/0930	***	May		UK	S&P Global Composite PMI (p)	54.9	54.7
23/05/2023	0900/1000	*	May		UK	Bid to Cover Ratio	--	--	%
23/05/2023	1230/0830	*	Apr		CA	Industrial Product Prices m/m	0.1	--	%
23/05/2023	1230/0830	*	Apr		CA	Raw Material Prices m/m	-1.7	--	%
23/05/2023	1230/0830	**	May		US	Philadelphia Fed Nonmfg Index	-22.8	--
23/05/2023	1255/0855	**	20-May		US	Redbook Retail Sales y/y (month)	--	--	%
23/05/2023	1255/0855	**	20-May		US	Redbook Retail Sales y/y (week)	--	--	%
23/05/2023	1345/0945	***	May		US	S&P Global Manufacturing PMI (p)	50.2	50.0
23/05/2023	1345/0945	***	May		US	S&P Global Services Index (p)	53.6	52.6
23/05/2023	1400/1000	***	Apr		US	New Home Sales	0.683	0.663	(m)
23/05/2023	1400/1000	***	Apr		US	Previous New Home Sales Revised (millions)	--	--	(m)
23/05/2023	1400/1000	**	May		US	Richmond Fed Mfg Index	--	--
23/05/2023	1530/1130	*	26-May		US	Bid to Cover Ratio	--	--
23/05/2023	1700/1300	*	May		US	Bid to Cover Ratio	--	--
24/05/2023	0200/1400	***	May		NZ	RBNZ OCR	5.25	5.5	%
24/05/2023	0600/0700	***	Apr		UK	CPI m/m	0.8	0.7	%
24/05/2023	0600/0700	***	Apr		UK	CPI y/y	10.1	8.2	%
24/05/2023	0600/0700	***	Apr		UK	Core CPI y/y	6.2	6.2	%
24/05/2023	0600/0700	***	Apr		UK	PPI Input y/y	7.6	4.9	%
24/05/2023	0600/0700	***	Apr		UK	PPI Output y/y	8.7	5.8	%
24/05/2023	0800/1000	***	May		DE	IFO Business Climate Index	93.6	93.0
24/05/2023	0830/0930	*	Apr		UK	ONS House Price Index y/y	5.5	--	%
24/05/2023	1000/1100	**	May		UK	CBI Order Books Balance	-20.0	-18
24/05/2023	1000/1100	**	May		UK	CBI Price Intentions Balance	23.0	--
24/05/2023	1100/0700	**	19-May		US	MBA Mortgage Applications w/w	--	--	%
24/05/2023	1230/0830	*	Q1		CA	Corporate profits	--	--	%
24/05/2023	1300/1500	**	May		BE	BNB Business Sentiment	-7.8	--
24/05/2023	1430/1030	**	19-May		US	Crude Oil Stocks ex. SPR w/w	--	--	bbl (m)
24/05/2023	1430/1030	**	19-May		US	Distillate Stocks w/w change	--	--	bbl (m)
24/05/2023	1430/1030	**	19-May		US	Gasoline Stocks w/w change	--	--	bbl (m)
24/05/2023	1530/1130	**	May		US	Bid to Cover Ratio	--	--
24/05/2023	1700/1300	*	May		US	Bid to Cover Ratio	--	--
25/05/2023	0600/0800	***	Q1		DE	GDP (f) q/q	0.0	0.0	%
25/05/2023	0600/0800	***	Q1		DE	GDP (f) y/y wda	-0.1	-0.1	%
25/05/2023	0600/0800	*	May		DE	GFK Consumer Climate	-25.7	--
25/05/2023	0600/0800	**	Apr		SE	Unemployment Rate	7.7	--	%
25/05/2023	0645/0845	**	May		FR	Manufacturing Sentiment	101.0	100
25/05/2023	0700/0900	**	Apr		ES	PPI m/m	--	--	%
25/05/2023	0700/0900	**	Apr		ES	PPI y/y	--	--	%
25/05/2023	1000/1100	**	May		UK	CBI Retail Sales Expected Balance	-7	--
25/05/2023	1000/1100	**	May		UK	CBI Retail Sales Reported Balance	5	--
25/05/2023	1100/0700	*			TR	Interest Rate	8.5	8.5	%
25/05/2023	1230/0830	**	20-May		US	Continuing Claims	1799	1800	(k)
25/05/2023	1230/0830	**	20-May		US	Initial Jobless Claims	242	250	(k)
25/05/2023	1230/0830	**	20-May		US	Prev Continuing Claims, Rev	--	--	(k)
25/05/2023	1230/0830	**	20-May		US	Prev Initial Jobless Claims, Rev	--	--	(k)
25/05/2023	1230/0830	**	18-May		US	Corn Net Sales	-339.0	--	MT (k)
25/05/2023	1230/0830	**	18-May		US	Corn Weekly Exports	1086.5	--	MT (k)
25/05/2023	1230/0830	**	18-May		US	Soy Net Sales	17.0	--	MT (k)
25/05/2023	1230/0830	**	18-May		US	Soy Weekly Exports	189.1	--	MT (k)
25/05/2023	1230/0830	**	18-May		US	Wheat Net Sales	-42.1	--	MT (k)
25/05/2023	1230/0830	**	18-May		US	Wheat Weekly Exports	216.6	--	MT (k)
25/05/2023	1230/0830	*	Mar		CA	Average weekly earnings y/y	--	--	%
25/05/2023	1230/0830	*	Mar		CA	Payroll employment	--	--	(k)
25/05/2023	1230/0830	***	Q1		US	GDP annualized QQ	1.1	1.1	%
25/05/2023	1400/1000	**	Apr		US	NAR Pending Home Sales	78.9	--
25/05/2023	1400/1000	**	Apr		US	Previous Pending Home Sales Index Revised, m/m	83.2	--
25/05/2023	1430/1030	**	19-May		US	Natural Gas Stocks w/w	--	--	Bcf
25/05/2023	1500/1100	**	May		US	Kansas City Fed Mfg Index	--	--
25/05/2023	1700/1300	**	May		US	Bid to Cover Ratio	--	--
26/05/2023	2330/0830	**	May		JP	Core central Tokyo CPI y/y	3.8	--	%
26/05/2023	0130/1130	**	May		AU	Retail Trade m/m	0.4	0.3	%
26/05/2023	0600/0700	***	Apr		UK	Retail Sales m/m	-0.9	0.4	%
26/05/2023	0600/0700	***	Apr		UK	Retail Sales y/y	-3.1	-2.7	%
26/05/2023	0600/0700	***	Apr		UK	Retail Sales(ex-fuel) m/m	-1.0	0.4	%
26/05/2023	0600/0700	***	Apr		UK	Retail Sales(ex-fuel) y/y	-3.2	-2.8	%
26/05/2023	0600/0800	**	Apr		SE	Retail Sales y/y	-11.6	--	%
26/05/2023	0600/0800	**	Apr		SE	PPI m/m	--	--	%
26/05/2023	0600/0800	**	Apr		SE	PPI y/y	--	--	%
26/05/2023	0645/0845	**	May		FR	Consumer Sentiment	83.0	84
26/05/2023	0800/1000	**	May		IT	ISTAT Business Confidence	110.5	--
26/05/2023	0800/1000	**	May		IT	ISTAT Consumer Confidence	105.5	105.2
26/05/2023	1230/0830	**	Apr		US	Durable Goods New Orders m/m	3.2	-1.0	%
26/05/2023	1230/0830	**	Apr		US	Durable New Ords (x-trnsp) m/m	0.2	0.0	%
26/05/2023	1230/0830	**	Apr		US	Previous Durable Goods New Orders Ex Transportation Revised SA m/m percent change	-0.3	--	%
26/05/2023	1230/0830	**	Apr		US	Previous Durable Goods New Orders Revised SA m/m percent change	-1.2	--	%
26/05/2023	1230/0830	**	Apr		US	Core PCE Price Index m/m	0.3	0.3	%
26/05/2023	1230/0830	**	Apr		US	Current Dollar PCE	0.0	0.4	%
26/05/2023	1230/0830	**	Apr		US	Personal Income m/m	0.3	0.4	%
26/05/2023	1230/0830	**	Apr		US	Total PCE Price Index m/m	0.1	0.3	%
26/05/2023	1230/0830	**	Apr		US	Advance Goods Trade Gap	-84.6	-85.6	USD (b)
26/05/2023	1230/0830	**	Apr		US	Advance Retail Inventories	0.7	--	%
26/05/2023	1230/0830	**	Apr		US	Advance Wholesale Inventories	0.0	--	%
26/05/2023	1400/1000	***	May		US	Michigan sentiment index (f)	57.7	58.0

1255 words

To read the full story

Free Trial

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

Enter your Country

Enter your Phone

Areas of interests

MNI may contact you in your professional capacity with information about our other products and services that we believe may be of interest to you. You will be able to update your communication preferences via the unsubscribe link provided within your communication.

Why Subscribe to
MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Date	GMT/Local	Impact	Period	Flag	Country	Release	Prior	Consensus
22/05/2023	0900/1100	**	Mar		EU	Construction Prod m/m	2.3	--	%
22/05/2023	0900/1100	**	Mar		EU	Construction Prod y/y WDA	2.3	--	%
22/05/2023	1400/1600	**	May		EU	Consumer Confidence (p)	-17.5	-16.5
22/05/2023	1530/1130	*	26-May		US	Bid to Cover Ratio	--	--
22/05/2023	1530/1130	*	26-May		US	Bid to Cover Ratio	--	--
23/05/2023	2300/0900	***	Apr		AU	Judo Bank Composite PMI (p)	53.0	--
23/05/2023	2300/0900	***	Apr		AU	Judo Bank Manufacturing PMI (p)	48.0	--
23/05/2023	2300/0900	***	Apr		AU	Judo Bank Services PMI (p)	53.7	--
23/05/2023	0030/0930	**	May		JP	Jibun Bank Flash Composite PMI	--	--
23/05/2023	0030/0930	**	May		JP	Jibun Bank Flash Manufacturing PMI	--	--
23/05/2023	0030/0930	**	May		JP	Jibun Bank Flash Services PMI	--	--
23/05/2023	0600/0700	***	Apr		UK	Central Govt Net Cash Requirmt	25.049	--	GBP (b)
23/05/2023	0600/0700	***	Apr		UK	Public Sector Net Borrowing	20.709	--	GBP (b)
23/05/2023	0715/0915	**	May		FR	S&P Global Services PMI (p)	54.6	54.0
23/05/2023	0715/0915	**	May		FR	S&P Global Manufacturing PMI (p)	45.6	46.0
23/05/2023	0730/0930	**	May		DE	S&P Global Services PMI (p)	56.0	55.0
23/05/2023	0730/0930	**	May		DE	S&P Global Manufacturing PMI (p)	44.5	45.0
23/05/2023	0800/1000	**	Mar		EU	EZ Current Acc	24.3	--	E (b)
23/05/2023	0800/1000	**	May		EU	S&P Global Services PMI (p)	56.2	55.7
23/05/2023	0800/1000	**	May		EU	S&P Global Manufacturing PMI (p)	45.8	45.8
23/05/2023	0800/1000	**	May		EU	S&P Global Composite PMI (p)	54.1	53.3
23/05/2023	0830/0930	***	May		UK	S&P Global Manufacturing PMI (f)	47.8	48.0
23/05/2023	0830/0930	***	May		UK	S&P Global Services PMI (p)	55.9	55.5
23/05/2023	0830/0930	***	May		UK	S&P Global Composite PMI (p)	54.9	54.7
23/05/2023	0900/1000	*	May		UK	Bid to Cover Ratio	--	--	%
23/05/2023	1230/0830	*	Apr		CA	Industrial Product Prices m/m	0.1	--	%
23/05/2023	1230/0830	*	Apr		CA	Raw Material Prices m/m	-1.7	--	%
23/05/2023	1230/0830	**	May		US	Philadelphia Fed Nonmfg Index	-22.8	--
23/05/2023	1255/0855	**	20-May		US	Redbook Retail Sales y/y (month)	--	--	%
23/05/2023	1255/0855	**	20-May		US	Redbook Retail Sales y/y (week)	--	--	%
23/05/2023	1345/0945	***	May		US	S&P Global Manufacturing PMI (p)	50.2	50.0
23/05/2023	1345/0945	***	May		US	S&P Global Services Index (p)	53.6	52.6
23/05/2023	1400/1000	***	Apr		US	New Home Sales	0.683	0.663	(m)
23/05/2023	1400/1000	***	Apr		US	Previous New Home Sales Revised (millions)	--	--	(m)
23/05/2023	1400/1000	**	May		US	Richmond Fed Mfg Index	--	--
23/05/2023	1530/1130	*	26-May		US	Bid to Cover Ratio	--	--
23/05/2023	1700/1300	*	May		US	Bid to Cover Ratio	--	--
24/05/2023	0200/1400	***	May		NZ	RBNZ OCR	5.25	5.5	%
24/05/2023	0600/0700	***	Apr		UK	CPI m/m	0.8	0.7	%
24/05/2023	0600/0700	***	Apr		UK	CPI y/y	10.1	8.2	%
24/05/2023	0600/0700	***	Apr		UK	Core CPI y/y	6.2	6.2	%
24/05/2023	0600/0700	***	Apr		UK	PPI Input y/y	7.6	4.9	%
24/05/2023	0600/0700	***	Apr		UK	PPI Output y/y	8.7	5.8	%
24/05/2023	0800/1000	***	May		DE	IFO Business Climate Index	93.6	93.0
24/05/2023	0830/0930	*	Apr		UK	ONS House Price Index y/y	5.5	--	%
24/05/2023	1000/1100	**	May		UK	CBI Order Books Balance	-20.0	-18
24/05/2023	1000/1100	**	May		UK	CBI Price Intentions Balance	23.0	--
24/05/2023	1100/0700	**	19-May		US	MBA Mortgage Applications w/w	--	--	%
24/05/2023	1230/0830	*	Q1		CA	Corporate profits	--	--	%
24/05/2023	1300/1500	**	May		BE	BNB Business Sentiment	-7.8	--
24/05/2023	1430/1030	**	19-May		US	Crude Oil Stocks ex. SPR w/w	--	--	bbl (m)
24/05/2023	1430/1030	**	19-May		US	Distillate Stocks w/w change	--	--	bbl (m)
24/05/2023	1430/1030	**	19-May		US	Gasoline Stocks w/w change	--	--	bbl (m)
24/05/2023	1530/1130	**	May		US	Bid to Cover Ratio	--	--
24/05/2023	1700/1300	*	May		US	Bid to Cover Ratio	--	--
25/05/2023	0600/0800	***	Q1		DE	GDP (f) q/q	0.0	0.0	%
25/05/2023	0600/0800	***	Q1		DE	GDP (f) y/y wda	-0.1	-0.1	%
25/05/2023	0600/0800	*	May		DE	GFK Consumer Climate	-25.7	--
25/05/2023	0600/0800	**	Apr		SE	Unemployment Rate	7.7	--	%
25/05/2023	0645/0845	**	May		FR	Manufacturing Sentiment	101.0	100
25/05/2023	0700/0900	**	Apr		ES	PPI m/m	--	--	%
25/05/2023	0700/0900	**	Apr		ES	PPI y/y	--	--	%
25/05/2023	1000/1100	**	May		UK	CBI Retail Sales Expected Balance	-7	--
25/05/2023	1000/1100	**	May		UK	CBI Retail Sales Reported Balance	5	--
25/05/2023	1100/0700	*			TR	Interest Rate	8.5	8.5	%
25/05/2023	1230/0830	**	20-May		US	Continuing Claims	1799	1800	(k)
25/05/2023	1230/0830	**	20-May		US	Initial Jobless Claims	242	250	(k)
25/05/2023	1230/0830	**	20-May		US	Prev Continuing Claims, Rev	--	--	(k)
25/05/2023	1230/0830	**	20-May		US	Prev Initial Jobless Claims, Rev	--	--	(k)
25/05/2023	1230/0830	**	18-May		US	Corn Net Sales	-339.0	--	MT (k)
25/05/2023	1230/0830	**	18-May		US	Corn Weekly Exports	1086.5	--	MT (k)
25/05/2023	1230/0830	**	18-May		US	Soy Net Sales	17.0	--	MT (k)
25/05/2023	1230/0830	**	18-May		US	Soy Weekly Exports	189.1	--	MT (k)
25/05/2023	1230/0830	**	18-May		US	Wheat Net Sales	-42.1	--	MT (k)
25/05/2023	1230/0830	**	18-May		US	Wheat Weekly Exports	216.6	--	MT (k)
25/05/2023	1230/0830	*	Mar		CA	Average weekly earnings y/y	--	--	%
25/05/2023	1230/0830	*	Mar		CA	Payroll employment	--	--	(k)
25/05/2023	1230/0830	***	Q1		US	GDP annualized QQ	1.1	1.1	%
25/05/2023	1400/1000	**	Apr		US	NAR Pending Home Sales	78.9	--
25/05/2023	1400/1000	**	Apr		US	Previous Pending Home Sales Index Revised, m/m	83.2	--
25/05/2023	1430/1030	**	19-May		US	Natural Gas Stocks w/w	--	--	Bcf
25/05/2023	1500/1100	**	May		US	Kansas City Fed Mfg Index	--	--
25/05/2023	1700/1300	**	May		US	Bid to Cover Ratio	--	--
26/05/2023	2330/0830	**	May		JP	Core central Tokyo CPI y/y	3.8	--	%
26/05/2023	0130/1130	**	May		AU	Retail Trade m/m	0.4	0.3	%
26/05/2023	0600/0700	***	Apr		UK	Retail Sales m/m	-0.9	0.4	%
26/05/2023	0600/0700	***	Apr		UK	Retail Sales y/y	-3.1	-2.7	%
26/05/2023	0600/0700	***	Apr		UK	Retail Sales(ex-fuel) m/m	-1.0	0.4	%
26/05/2023	0600/0700	***	Apr		UK	Retail Sales(ex-fuel) y/y	-3.2	-2.8	%
26/05/2023	0600/0800	**	Apr		SE	Retail Sales y/y	-11.6	--	%
26/05/2023	0600/0800	**	Apr		SE	PPI m/m	--	--	%
26/05/2023	0600/0800	**	Apr		SE	PPI y/y	--	--	%
26/05/2023	0645/0845	**	May		FR	Consumer Sentiment	83.0	84
26/05/2023	0800/1000	**	May		IT	ISTAT Business Confidence	110.5	--
26/05/2023	0800/1000	**	May		IT	ISTAT Consumer Confidence	105.5	105.2
26/05/2023	1230/0830	**	Apr		US	Durable Goods New Orders m/m	3.2	-1.0	%
26/05/2023	1230/0830	**	Apr		US	Durable New Ords (x-trnsp) m/m	0.2	0.0	%
26/05/2023	1230/0830	**	Apr		US	Previous Durable Goods New Orders Ex Transportation Revised SA m/m percent change	-0.3	--	%
26/05/2023	1230/0830	**	Apr		US	Previous Durable Goods New Orders Revised SA m/m percent change	-1.2	--	%
26/05/2023	1230/0830	**	Apr		US	Core PCE Price Index m/m	0.3	0.3	%
26/05/2023	1230/0830	**	Apr		US	Current Dollar PCE	0.0	0.4	%
26/05/2023	1230/0830	**	Apr		US	Personal Income m/m	0.3	0.4	%
26/05/2023	1230/0830	**	Apr		US	Total PCE Price Index m/m	0.1	0.3	%
26/05/2023	1230/0830	**	Apr		US	Advance Goods Trade Gap	-84.6	-85.6	USD (b)
26/05/2023	1230/0830	**	Apr		US	Advance Retail Inventories	0.7	--	%
26/05/2023	1230/0830	**	Apr		US	Advance Wholesale Inventories	0.0	--	%
26/05/2023	1400/1000	***	May		US	Michigan sentiment index (f)	57.7	58.0

MNI BRIEF: Trudeau Blames NIMBYs For National Housing Squeeze

MNI BRIEF: Fed Must Keep Higher Rate Through Next Year- IMF

MNI: Canada's 2022-23 Budget Deficit Is Near Forecast

MNI: TREASURY GENERAL ACCOUNT $38.8B MAY 25 VS $49.5B PREV DAY

MNI DATA FORECASTS: EZ Inflation, US Payrolls In Focus

EZ/UK Bond Supply Calendar: Italy BTP/CCTeu Auction on Tuesday

(RPT)MNI INTERVIEW: Fed Needs Better QE Guardrails-Fed Adviser

MNI: Canada Resilient To US Debt Ceiling Clash- Freeland

MNI BRIEF: BOC Defends 2% Target, Senate Asks About Raising It

Real-time Actionable Insight

MNI BRIEF: Trudeau Blames NIMBYs For National Housing Squeeze

MNI BRIEF: Fed Must Keep Higher Rate Through Next Year- IMF

MNI DATA FORECASTS: EZ Inflation, US Payrolls In Focus

MNI INTERVIEW: Fed Needs Limit On Reverse Repo - McAndrews

MNI INTERVIEW: Firms See Canada Skirting Slump & More BOC Pain

MNI DATA FORECASTS: Flash PMIs In Market's Eyesight

Why Subscribe to
MNI

MNI

PRODUCTS

EVENTS

TOPICS

Real-time Actionable Insight

MNI DATA FORECASTS: Flash PMIs In Market's Eyesight

Sign up now for free access to this content.

FI Market:

FX Market:

Data:

Policy:

MNI Research:

Emerging Markets:

High Speed Calendar:

Commodities:

Why Subscribe to MNI

MNI

PRODUCTS

EVENTS

TOPICS

Why Subscribe to
MNI