Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Its an early start for data watchers Monday, with the main releases, UK short-term indicators and Norway's GDP both expected at 0700BST.
UK monthly GDP to edge higher in April
UK monthly GDP is expected to have inched higher in April, rising 0.1% and reversing the 0.1% decline seen in March. However, on a 3mm bases, growth is expected to slow to 0.4% from 0.8% in March. The service sector is expected to mirror the wider economy, edging higher from the modest contraction seen in the the previous set of data.
Although and improvement on the March reading, the data is still weak overall and the lack of strength in the service sector pickup underlines comments earlier Monday from the CBI director general Tony Danker, who said the UK consumer is heading towards a 'household recession' as inflationary pressure weighs on discretionary spending.
The continued weak growth outlook will be part of the broader narrative for Bank of England policymakers as they meet this week and ponder a 5th consecutive interest rate hike to counter inflation running at 9% y/y.
Norway GDP to slow
Norway's monthly mainland GDP data is expected to slow in April,, with analysts looking for a 0.5% reading, down from 1.0% in March. The Norges Bank meets next week and the slowing economy is likely to be secondary to the continuing pickup in inflation when they almost certainly raise rates again.
In the US, the NY Fed survey of Consumer Expectations, due at 1500BST, will be closely watched.
With the Bank of England, Fed and SNB all in their blackout period, ECB officials top the speaking charts, with Holzmann, Simkus and VP de Guindos all set to speak.
| Date | GMT/Local | Impact | Flag | Country | Event |
| 13/06/2022 | 0600/0700 | ** |  | UK | Index of Services |
| 13/06/2022 | 0600/0700 | ** | | UK | UK Monthly GDP |
| 13/06/2022 | 0600/0700 | *** | | UK | Index of Production |
| 13/06/2022 | 0600/0700 | ** | | UK | Output in the Construction Industry |
| 13/06/2022 | 0600/0700 | ** | | UK | Trade Balance |
| 13/06/2022 | 0600/0800 | ** |  | NO | Norway GDP |
| 13/06/2022 | 1100/1300 |  | EU | ECB de Guindos at Arab Central Banks & Monetary Authorities' Meeting | |
| 13/06/2022 | 1230/0830 | * |  | CA | Household debt-to-disposable income |
| 13/06/2022 | 1500/1100 | ** |  | US | NY Fed survey of consumer expectations |
| 13/06/2022 | 1530/1130 | * | | US | US Treasury Auction Result for 13 Week Bill |
| 13/06/2022 | 1530/1130 | * | | US | US Treasury Auction Result for 26 Week Bill |
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.