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Beijing Covid outbreak weighs on Chinese markets

Chris Scicluna
Emily Nicol
  • Japanese flash PMIs and Tokyo CPI figures for May the highlights this week
  • Euro area sentiment surveys to flag persisting supply-side constraints
  • UK flash PMIs and retail sector survey to highlight impact of cost of living crisis

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UK retail sales post surprise rise

Chris Scicluna
Emily Nicol
  • Euro area consumer confidence to remain extremely subdued, French retail sales drop, while German PPI inflation jumps to new series high
  • Japan inflation above 2% for the first time since 2008

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Japan’s trade deficit largest for eight years

Chris Scicluna
Emily Nicol
  • Japan machine orders point to subdued recovery in private sector capex in Q2
  • UK CBI manufacturing survey to flag challenges amid supply constraints and higher prices

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UK inflation rises to series high

Chris Scicluna
Emily Nicol
  • Japanese GDP contracted in Q1, but economy fared slightly better than expected
  • Reuters Tankan paints mixed picture for business conditions in May
  • Euro area inflation set to be confirmed at record high, auto sales slump in April

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Despite weakening growth, UK labour market tightens further

Chris Scicluna
Emily Nicol
  • Buoyant wage growth flags likely to persuade MPC to raise rates again next month
  • Japanese tertiary activity boosted by lifting of restrictions, but still down in Q1
  • Euro area updated Q1 GDP to confirm growth of 0.2%Q/Q

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