MNI Global Morning Briefing

     LONDON (MNI) - You would be excused for thinking the calendar is like a bus

schedule; rather infrequent but when they do arrive, they are all clustered

together.

     Moving early at 0645GMT sees Switzerland release their GDP forecast.

Previously, 2018 GDP was forecasted at 1% for the year with 2019 forecasted at

2.3%. This is followed by Germany's release of its producer prices at 0700GMT

with previous m/m and y/y figures at 0.5% and 2.1% respectively.

     The UK sees the release of its February CPI figures as well as the House

Price Index and Producer Prices.

     Analysts are pencilling an easing in inflation with MNI forecasts

suggesting a drop in CPI to 2.7% in February from 3.0% in January. On a m/m

basis, the measure is expected to pick up from -0.5% to 0.5% in February.

     Core CPI also has analysts pencilling in a slight drop, matching the 0.3pp

drop expected in CPI. After a prior y/y figure of 2.7%, analysts anticipate a

y/y figure of 2.4% in February.

     PPI figures showed previous y/y figures in February at 2.8% for outputs and

4.7% for inputs and the House Price Index with the y/y figure increasing 5.2% in

the year to December 2017 (up from 5% in November 2017).

     Germany conclude the European morning calendar with the DE ZEW Current

Conditions and Current Expectations Index at 1000GMT. MNI forecasts suggests a

slight fall in the Current Expectations Index from a prior of 17.8 to a forecast

of 13 which still would suggest analysts are still optimistic about the state of

the German economy in six months. However, this is still below the long term

average of 23.7 points.

     Not much to report in the US and Canada other than the Philadelphia Fed

Nonmanufacturing Index for the US at 1230GMT as well as Canada's wholesale trade

figures at the same time. The nonmanufacturing index was previously at 31 and

Canada witnessed a contraction in Wholesales Trade previously of 0.5%. This is

followed shortly after with the Redbook Retail Sales Index in the US. whilst the

Redbook Retails Sales Index figure m/m declined previously at -0.3%.

     After leading the morning, 1500GMT sees the return of Europe with the Flash

Consumer Confidence Index figures. After a previous figure of 0.1, analysts

expect a fall in the index to -0.2.

     With the Brexit negotiations this week, it is imperative not to miss at

1800GMT ECB Gov. Council member Ewald Nowotny's speech on Brexit and its impacts

in Vienna.

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com