Publication date: February 20, 2026

The week ahead: EU inflation and German economic growth

In Money Care's weekend report, we present the overview of the (macroeconomic) events that could cause movement in stock markets.

Review of last week:

Friday afternoon at 2:30 p.m., new inflation and economic growth figures were released in the United States. Until then, the trading week went relatively quiet.

The core PCE price index, a key measure of inflation, rose to 3 percent year-on-year. The market was counting on an increase to 2.9 percent. In addition, gross domestic product for the fourth quarter of 2025 fell significantly. Whereas it was expected to fall from 4.4 percent to 2.8 percent, the final growth came in at only 1.4 percent.

In particular, financial markets reacted to higher-than-expected inflation. This decreased the likelihood of a rate cut by the Federal Reserve. U.S. equity markets and the crypto market fell, while the euro lost slight ground against the U.S. dollar. Gold prices rose. European equity markets, on the other hand, reacted modestly.

Upcoming week:

No exceptionally important macroeconomic releases are scheduled for the coming week. Nevertheless, there are some figures that deserve investors' attention.

On Wednesday, inflation figures for January in the European Union will be released. The annualized inflation rate fell to 1.7 percent in the recent period. The market expects this rate to remain unchanged in January. Sustained low or falling inflation gives the European Central Bank room to cut interest rates in the future.

That same morning, German gross domestic product for the fourth quarter of 2025 will be announced. Germany is the largest economy within the European Union, but its economic growth has for some time clearly lagged that of the United States and China. Quarterly growth of 0.3 percent is expected for the fourth quarter.

Friday afternoon in the United States follows the publication of the producer price index. This index measures the average price trend of goods and services at the producer level. A rising producer price index may indicate that higher costs will eventually be passed on to consumers, which may increase inflationary pressures.

The stock market calendar week 9

The following is an overview of the most important macroeconomic publications for the coming week. These figures may cause additional volatility in financial markets.

Monday, February 23, 2026:

Tuesday, February 24, 2026:

United States:

• 16:00 Consumer confidence February
  
  

Wednesday, February 25, 2026:

Europe:

• 8:00 German GDP fourth quarter 2025
• 11:00 Inflation European Union January
  
  

Thursday, February 26, 2026:

No major macroeconomic figures

Friday, February 27, 2026:

United States:

• 14.30 January Producer Price Index

Please note that publication dates and times may change. Please consult the official communication channels of the relevant institutions and governments for the most up-to-date information.

Disclaimer: Investing involvesrisks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts' own insights and experiences. They are therefore for educational purposes only.