KEJI - The In-Between Week

• The US employment data and the ECB meeting are behind us, and the Federal Reserve, Bank of Japan, Bank of England, and Norway's Norges Bank lie ahead.
• The general sense one gets by surveying the recent string of data is that economic activity has downshifted.
• With most of the recent US data being reported below expectations, it seems like it a just a matter of time before other bank economists join Goldman Sachs in cutting its Q3 GDP forecasts.
• The UK's economic calendar is busier than Japan's, and while Japan's growth surprised on the upside, the UK's high-frequency data have disappointed of late.

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