Several rounds of economic data are expected out this week with the spotlight being put on France, Germany, and the rest of the eurozone alongside Japan and China.
Pessimism is abound as economists expect Europe’s monetary union to post minimal growth compared to the year’s first quarter based on recent figures. Italy was revealed to be back in a recession last week while the region’s dominant manufacturing sector slowed down. Its largest economy in Germany is likewise expected to have had a disappointing performance during the period.
A bright spot can be found in France and Spain whose gross domestic products may have risen compared to the first quarter by 0.1% and 0.6% respectively. Together, the eurozone is forecast to post a growth of 0.1% when official data is released on Thursday.
Meanwhile, the UK labor market is expected to have improved led by the unemployment rate falling further to 6.4% and wage growth picking up despite still being below the region’s inflation rate. The Bank of England will unveil its inflation outlook for the third quarter on Wednesday which is expected to feature a lower forecast due to pay increases being insufficient to spur a rise in prices.
In Asia, analysts believe that Japanese reports on Wednesday will show that the country’s GDP declined in the second quarter by 1.8% behind slower consumer spending caused by a sales tax increase at the start of April. Statistics showing higher industrial production, sales in retail, and investment figures for China in July are expected out on the same day.
The material has been provided by InstaForex Company – www.instaforex.com
Several rounds of economic data are expected out this week with the spotlight being put on France, Germany, and the rest of the eurozone alongside Japan and China.
Pessimism is abound as economists expect Europe’s monetary union to post minimal growth compared to the year’s first quarter based on recent figures. Italy was revealed to be back in a recession last week while the region’s dominant manufacturing sector slowed down. Its largest economy in Germany is likewise expected to have had a disappointing performance during the period.
A bright spot can be found in France and Spain whose gross domestic products may have risen compared to the first quarter by 0.1% and 0.6% respectively. Together, the eurozone is forecast to post a growth of 0.1% when official data is released on Thursday.
Meanwhile, the UK labor market is expected to have improved led by the unemployment rate falling further to 6.4% and wage growth picking up despite still being below the region’s inflation rate. The Bank of England will unveil its inflation outlook for the third quarter on Wednesday which is expected to feature a lower forecast due to pay increases being insufficient to spur a rise in prices.
In Asia, analysts believe that Japanese reports on Wednesday will show that the country’s GDP declined in the second quarter by 1.8% behind slower consumer spending caused by a sales tax increase at the start of April. Statistics showing higher industrial production, sales in retail, and investment figures for China in July are expected out on the same day.
The material has been provided by InstaForex Company – www.instaforex.com
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