Friday preview: China GDP, US and eurozone inflation

A flood of economic data will keep investors on their toes on Friday, a day after the Bank of England surprised the market with its decision to keep interest rates unchanged.

China kicks off the day with a batch of releases including industrial production, retail sales and second quarter gross domestic product.

GDP will be the main focus for China with economists pencilling in a 6.6% year-on-year increase for the second quarter compared to 6.7% growth in the first quarter.

China’s government is targeting 6.5% to 7% GDP growth for this year, down from last year’s target of “around 7%”. Actual growth was 6.9 % last year.

The final estimate of June eurozone inflation will be another report that is closely monitored amid concerns that consumer prices remain well below the European Central Bank’s target of just below 2%. Economists predict Eurostat will confirm a 0.1% year-on-year increase in consumer prices following a 0.1% drop in May.

The US will also see inflation data for June. Analysts expect the consumer price index rose an annualised 1.1% last month after a 1.0% gain in May.

US retail sales figures will also be under the microscope to gauge consumer confidence in the world’s largest economy. A 0.1% increase in June is expected after a 0.5% rise in May.

Other data in the US includes the University of Michigan’s consumer confidence index, industrial and manufacturing production, business inventories and the Baker Hughes US Rig Count.

Friday 15 July

AGMs

Templeton Emerging Markets Inv Trust

Homeserve

DCC

Annual Report

iEnergizer Ltd.

Final Dividend Payment

Wireless Group

ProVen VCT

ProVen Growth & Income VCT

Marks & Spencer Group

Value and Income Trust

Telford Homes

First Derivatives

New Century AIM VCT 2

London & Associated Properties

Maven Income & Growth VCT

Sirius Real Estate Ltd.

Scisys

Northern 3 VCT

Interim Dividend Payment Date

Topps Tiles

Standard Life European Private Equity Trust

Polar Capital Holdings

Worldwide Healthcare Trust

Elegant Hotels Group

Special Dividend Payment Date

Northern 3 VCT

Marks & Spencer Group

Wireless Group

Taylor Wimpey

International Economic Announcements

Balance of Trade (EU) (10:00)

Consumer Price Index (EU) (10:00)

Retail Sales Less Autos (US) (13:30)

Retail Sales (US) (13:30)

Consumer Price Index (US) (13:30)

Current Account (US) (13:30)

Industrial Production (US) (14:15)

Capacity Utilisation (US) (14:15)

U. of Michigan Confidence (Prelim) (US) (15:00)

Business Inventories (US) (15:00)