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MNI Global Morning Briefing

MNI (London)
     LONDON (MNI) - Its a relatively quiet start to the week, with only limited
data set for release.
     The European calendar kicks off at 0630GMT, with the release of the French
Bank of France Business survey. At 0800GMT, the latest Italian industrial
production data will cross the wire.
     There is a string of UK data set for release at 0830GMT, including the
latest trade data, industrial production/manufacturing output and construction
spending.
     After snow and ice laced the country from top to bottom in February and
March, without impacting manufacturing activity according to the ONS, April saw
much better weather.
     Some analysts don't buy the ONS's claim of snow-immunity and believe a
bounce back is on the cards. Manufacturing output is expected to rebound a
robust 0.4% m/m, 3.1% on the year, for a 0.2% rise in monthly IOP.
     Analysts see the UK trade balance broadly unchanged at -stg3.3bn, stg0.3bn
wider than a month prior.
     The global trade in goods deficit, meanwhile, is expected to narrow
slightly, down stg0.4bn to stg12.0bn.
     There is very little in the US, with just the NY Fed survey of consumer
expectations set for publication.
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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