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Busy week coming up for data

UK
  • In terms of data this week, it will be a busy week. The highlights for us will be PMIs on Wednesday and retail sales on Friday.
  • Data kicks off on Tuesday with the release of the labour market survey – however, most of the data here will be stale as it will be from before the English lockdown and subsequent larger extension of the furlough scheme.
  • Inflation data on Wednesday will be lower key for markets (even ahead of the MPC decision) with the main impacts likely to be on the linker market.
  • The PMIs, also on Wednesday, will be closely watched, however, as they are the first major survey to be released of the post-English lockdown situation, and will also potentially include some concerns about the future of the EU-UK trade relationship.
  • Friday will see GfK consumer confidence and the CBI industrial trends survey, but notably will also see the release of retail sales for November. This will be the first hard data point for November so will give us the best indication so far of how consumer spending has held up and will include Black Friday (although likely not the whole weekend).
For more on the week ahead's events including a Brexit update and early thoughts on the BoE MPC meeting see the Gilt Week Ahead here.

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