Friday preview: US data in focus as Fed interest rate decision looms

US retail sales rose 0.3% in November from a year ago, according to estimates ahead of data from the Commerce Department on Friday.

Sales increased just 0.1% in October but Black Friday and Cyber Monday discounts last month may have given numbers a boost.

The report is an important indicator of consumer spending, which is a major contributor to gross domestic product.

The University of Michigan’s consumer confidence report is also due on Friday. Analysts expect a preliminary estimate of the sentiment index to increase to 92 in December from 91.3 in November.

The US economic data comes ahead of the Federal Reserve’s policy meeting on 15-16 of December. The Fed, which is monitoring data closely, is widely expected to raise interest rates.

In the UK, the Bank of England and GfK will publish its Inflation Attitudes Survey, a day after the central bank decided to keep interest rates unchanged amid low inflation.

The final estimate of German inflation for November is also due, with analysts predicting an unchanged reading of 0.4% year-on-year growth.

Friday 11 December

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INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Inventories (US) (15:00)
Consumer Price Index (GER) (07:00)
Manufacturing Inventories (US) (15:00)
Producer Price Index (US) (13:30)
Retail Sales (US) (13:30)
Retail Sales Inventories (US) (15:00)
U. of Michigan Confidence (US) (15:00)

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