There’s plenty of economic and earnings news to digest this week. As well, North American markets will be closed to observe Good Friday.

On Monday, Statistics Canada reports on manufacturing shipments for January. Month-over-month figures are expected to rise 0.6%.

European Central Bank governing council members Christian Noyer and Axel Weber join Bank of Canada deputy governor Paul Jenkins to address the EU Chamber of Commerce in Toronto.

On Tuesday, StatsCan reports on the consumer price index in February. Economists expect a rise of 1.8% from a year earlier in the benchmark indicator of inflation.

On Wednesday, Statistics Canada reports on wholesale trade for January. Economists expect a 0.8% increase from the previous month.

On Thursday, StatsCan reports on Canada’s international securities transactions for January. A net inflow of $2-billion is forecast.

U.S. calendar

On Monday, the U.S. Commerce Department releases data on the current account balance for the fourth quarter. Economists expect a deficit of US$184 billion.

Meanwhile, the U.S. Federal Reserve Board reports on industrial production and capacity utilization in February. Industrial production is forecast to drop 0.1%. Economists expect a capacity utilization rate of 81.3%.

On Tuesday, the Fed makes an announcement on interest rates. Economists expect the federal funds rate to drop to 2.5% from 3%.

As well, the U.S. Department of Labour reports on the producer price index in February. Economists expect a monthly rise of 0.4%.

Meanwhile, the U.S. Department of Commerce Commerce reports on housing starts and building permits in February. Economists forecast 995,000 starts and 1.03 million permits, annualized.

On Thursday, the U.S. Department of Labour reports on initial jobless claims for the week ended March 15. Economists are forecasting 360,000 claims.

Corporate earnings

Several Wall Street investment banks release their first quarter results this week. Goldman Sachs and Lehman Brothers report Tuesday. Morgan Stanley releases its results on Wednesday, and Bear Stearns is scheduled to report on Thursday.

On companies on this week’s earnings calendar include: HudBay Minerals Inc.; Altus Group Income Fund; Anderson Energy Ltd.; North American Palladium; Instorage REIT; Nike Inc.; General Mills Inc.; FedEx Corp.; West Energy Ltd.; Akita Drilling Ltd.; and Duvernay Oil Corp.