Economy 28 November 2016, 8:26am

Goodbye autumn, hello winter!

Portfolio

The last week of November will be pretty busy on the macroeconomic front. The Organisation for Economic Cooperation and Development (OECD) is to publish its latest economic forecasts for Hungary; European Central Bank (ECB) President Mario Draghi has not one but two speeches read for this week; the Organisation for Petroleum Exporting Countries (OPEC) could reach a deal on cutting output; we will have the latest employment data, revised GDP and the Beige Book by the Federal Reserve published in the United States; the first inflation data for November will be released in Europe and several PMI data for November will also be published.

The OECD will release its latest Economic Outlook on Monday, in which it will have data published in June revised. In the summer, the organisation lowered its GDP estimate for Hungary to 1.6% from 2.5% previously for this year, whereas it raised its 2017 projection to 3.1%.
http://www.portfolio.hu/en/economy/oecd_slashes _growth_estimate_for_hungary.31379.html
OPEC members will come together on Wednesday to discuss the reduction of output. They have already agreed to the outline of a deal that will cut production for the first time in eight years.
ECB President Mario Draghi will deliver a speech during his quarterly hearing before the Economic and Monetary Council of the European Parliament on Monday, and he will speak at the 100th anniversary of the University of Deusto Business School in Madrid on Wednesday.
The 2nd estimate of Q3 GDP will be released in the USA. The raw data showed 2.9% growth for July-September, which could be revised to 3.0%, according to expectations.
We will also see how many jobs were added in the USA after 161,000 created in October. The market estimate is 170,000.