1.2% fall in Q4 GDP expected
The main focus this week will be on Europe's Gross Domestic Product (GDP) figures, a measure of national income for the European economy. Economists expect them to show that the economy contracted by 1.2 per cent during the fourth quarter of 2008.
The main focus this week will be on Europe's Gross Domestic Product (GDP) figures, a measure of national income for the European economy. Economists expect them to show that the economy contracted by 1.2 per cent during the fourth quarter of 2008. Other than this, the economic schedule in Europe is rather thin.
Industrial production figures for December are also expected, where yet another decline is anticipated. Closing the week's data release is the Sentix investor confidence survey, a measure of investor confidence for the Eurozone economy.
In the UK, the main focus will be the Bank of England's quarterly inflation report, providing a view on the pricing trends in Britain.
Meanwhile, the British unemployment rate for December, due to be released this week, is expected to have surged to 6.3 per cent in December.
Elsewhere, the BRC January retail sales monitor report will provide a good indication of consumer spending with the UK. The trade balance figures will round up the week's UK data release.
In the US, the markets are expecting quite a few economic indicators, including the advance retail sales figure, which is likely to have remained sluggish in January. This, coupled with the University of Michigan confidence monthly survey, will provide details on consumer spending patterns in the US.
Meanwhile, the initial jobless claims and continuing claims will provide a snapshot of the labour market, while figures regarding wholesale and business inventories as at December will shed light on the manufacturing industry.
The MBA mortgage applications, which provide an insight on the US housing market, will close the week's data release.
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