Week ahead: UK GDP, EU leaders' summit, US earnings in focus
By Alexander Bueso
Date: Sunday 12 Jul 2020
(Sharecast News) - The focus over the coming week will be on reports covering gross domestic product and the labour market in May.
At 0930 BST on Tuesday, the Office for National Statistics will release its monthly GDP indicator, with Barclays Research anticipating that the data will reveal an 11.0% rally following April's 20.4% plunge in activity, helped by a rebound for construction and manufacturing.
That will be followed by data out on Thursday which is expected to show a sharp slowdown in the pace of job losses, despite which the unemployment rate is expected to climb from 3.9% to 4.2% and wages are seen shrinking.
In the background, Chinese foreign trade data for June, scheduled for release on Tuesday, will be closely watched.
So too a raft of activity indicators for fixed asset investment, industrial production, retail sales and for gross domestic product due out on Thursday.
The latter is expected to show that China's economy began growing again at the end of the quarter.
More important however may be the result of the EU heads of state summit, which will start on Thursday, where the bloc's leaders will attempt to thrash out the details of a proposed €750.0bn reconstruction fund.
Stateside, the consensus forecast is that consumer price figures on Tuesday will reveal a rebound in headline inflation from a 0.1% year-on-year rate of increase in May to 0.6% for June.
To take note of, Citigroup will kick-off the US second quarter earnings season on Tuesday.
A closely-followed survey of small-business confidence due out that same day may also merit watching, given the possible implications for hiring across the country.
Fortunately, Barclays anticipates that the weekly jobless claims due out on Thursday will show a further modest improvement in the American jobs market.
Also on Thursday, policymakers at the European Central Bank and in South Korea are due to meet to decide on interest rates.
On Friday, the University of Michigan will release its preliminary reading for US consumer confidence in July.
Monday 13 July
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Tuesday 14 July
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McColl's Retail Group , Ocado Group, Synectics
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ZEW Survey (EU) - Economic Sentiment (10:00)
ZEW Survey (GER) - Current Situation (10:00)
ZEW Survey (GER) - Economic Sentiment (10:00)
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easyJet
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Balance of Trade (07:00)
Gross Domestic Product (07:00)
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Pets at Home Group
Wednesday 15 July
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Import and Export Price Indices (US) (13:30)
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MBA Mortgage Applications (US) (12:00)
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UK ECONOMIC ANNOUNCEMENTS
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Retail Price Index (07:00)
Thursday 16 July
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Ediston Property Investment Company, Supermarket Income Reit, TwentyFour Select Monthly Income Fund Limited
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (EU) (10:00)
Business Inventories (US) (15:00)
Continuing Claims (US) (13:30)
ECB Interest Rate (EU) (12:45)
Initial Jobless Claims (US) (13:30)
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Friday 17 July
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Impax Asset Management Group, RWS Holdings
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Alpha Real Trust Ltd., Regional REIT Limited
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Building Permits (US) (13:30)
Consumer Price Index (EU) (10:00)
Housing Starts (US) (13:30)
U. of Michigan Confidence (Prelim) (US) (15:00)
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