Health check for economies

After an eventful week, markets will be expecting further economic releases to assess the health of the major economies on both sides of the Atlantic.

In the US, markets will be on the look-out for further evidence of a weakening US consumer as retail sales figures are due on Wednesday. This figure will be followed by consumer sentiment indications towards the end of the week coupled with the import price index which is due on Friday.

In the Eurozone, the German ZEW survey for February will kickstart the economic calendar for the week, where further declines will be expected. The highlight of the week will be the Gross Domestic Product figures planned for Wednesday. Most economists are predicting a moderation in the growth rate, down to an expected 2.2 per cent from a previous figure of 2.7 per cent.

The UK will have yet another busy week with Producer's Price Index and Consumer Price Index data at the start of the week. The limelight will be stolen by the much-awaited Bank of England's quarterly report on Wednesday, where confirmation of unrelenting inflationary pressures are expected to add to the BOE's woes.

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