by Bill McBride on 5/13/2015 06:32:00 PM
Wednesday, May 13, 2015
File under "the beatings will continue until morale improves" ...
From Bloomberg: Greece’s Creditors Said to Seek 3 Billion-Euro Budget Cuts
Greece’s anti-austerity government needs to raise at least three billion euros ($3.4 billion) through additional fiscal measures by the end of this year to meet the minimum budget targets acceptable by creditors, an official with knowledge of the discussions said.Thursday:
The reductions would bring the primary budget surplus in 2015 to just over 1 percent of gross domestic product, a target Greek Interior Minister Nikos Voutsis said today is acceptable. Without any change in fiscal policy, Greece would end 2015 with a budget deficit of about 0.5 percent of GDP, the official said.
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for claims to increase to 276 thousand from 265 thousand.
• Also at 8:30 AM, the Producer Price Index for April from the BLS. The consensus is for a 0.2% increase in prices, and a 0.1% increase in core PPI.
Posted by Bill McBride on 5/13/2015 06:32:00 PM