A barrage of statistics

In the US, a barrage of economic statistics will hit the wires this week. The main focus will be the release of the minutes of last month's Federal Open Market Committee meeting.

The industrial production figures for December are due to be realeased, where yet another decline is anticipated for the month of January. The Producer Price Index (PPI) and Consumer Price Index (CPI) will provide a view on US pricing trends.

The ABC Consumer confidence is likely to have continued languishing this month whereas the housing starts and building permits will round up the week's US data release, providing an insight on the US housing market.

In Europe, the economic schedule will kickstart with the release of the Composite Purchasing Manager Index (PMI), which is a gauge of conditions in the economy's manufacturing and services sectors. Meanwhile, the release of the construction output figures for December will paint a picture of construction activity within the Eurozone.

The ZEW survey will provide an insight on investor confidence within the wide Euro-area. Closing the week's data release is the Eurozone trade balance figures for December.

In Britain, the main focus will be the Bank of England's committee meeting minutes, which will reveal the voting pattern for the 0.5% cut in UK interest rates. Meanwhile, the global economic slowdown is hindering both domestic and foreign demand and this is likely to be reflected in the CBI February Industrial Trends total orders.

Meanwhile, on the data front, the CPI for January is expected to read 1.1%. Elsewhere, the retail sales figure will provide a view on the spending pattern in the UK.

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