Week Ahead 12th – 16th May

 

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 Monday The start of the week is fairly light in the way of data with the U.S. Federal Budget Balance and the NAB Business Confidence Data from Australia the only data of any note.

Tuesday sees more in the way of important economic data from various regions with the release of core retail sales out of the U.S. and the German ZEW economic sentiment index. Last month retail sales rose by 0.7%, recovering from the winter weather experienced at the beginning of the year, retail sales are expected to show continued growth with a rise of 0.5% expected.

Wednesday sees producer price data from the U.S. Producer prices gained 0.5% in March the largest gain in four years. April prices are predicted to rise 0.2%. In the U.K the Bank of England will release its quarterly inflation report, this is unlikely to contain any major changes to the inflation and growth outlook.

Thursday U.S. Unemployment Claims. Last week’s figure dropped below forecast to 319,000. Although some slack still remains in the labour market, it however continues to gain traction so a further decrease in claims is to be expected in this week’s figures.

Friday U.S. Preliminary Consumer Sentiment rose to 82.6 in April, its highest in nine months as current conditions and expectations continue to strengthen. With more favorable economic news reaching consumers recently another improvement in consumer sentiment is expected.

 Monday

April U.S. Federal Budget Balance

April U.K. BRC Retail Sales Monitor

April Australian NAB Business Confidence

Tuesday

April China industrial production and retail sales

May German ZEW readings

April U.S. retail sales

Wednesday

April German CPI, final

April U.K. unemployment, BoE inflation report

April U.S. PPI

Thursday

Q1 Japan GDP preliminary

Q1 Euro-zone GDP preliminary

April U.S. CPI, weekly jobless claims

Friday

March Euro-zone trade balance

April U.S. housing starts and building permits, May University of Michigan consumer confidence index preliminary

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