By WSJ staff 

The U.S. retail-sales report for July caps another week of data that will shed more light on the pace of global recovery from the new coronavirus pandemic.

Monday

China's consumer-price index is expected to climb slightly as a recent rise of pork prices and the flooding in southern China have raised concerns about food inflation. Industrial deflation probably eased, reflecting rising demand for products such as steel and cement amid government stimulus and a rise in construction activities.

Wednesday

The U.K. suffered an outsize hit from the coronavirus pandemic and government efforts to contain it. Economists estimate the economy shrank by one-fifth in the second quarter, a much steeper decline than the 12% fall in the neighboring eurozone or the 9.5% decline in the U.S. The scale of the fall reflects the length and timing of the U.K.'s lockdown and its economy's reliance on consumer spending during summer months.

Readings on U.S. consumer prices are expected to remain tame for July amid subdued demand and economic disruption related to the coronavirus pandemic. Food and fuel prices could be an exception.

Thursday

U.S. jobless-claims figures for the week ending Aug. 8 will help show the shape of the labor-market recovery during the first days of August. Layoffs appeared to fall slightly toward the end of July, though the pace of job gains also eased last month.

Friday

China releases a series of reports for July, with industrial output expected to benefit from rising global demand, fixed-asset investment expected to improve from the prior month, retail sales anticipated to stay roughly flat -- which would be the first time this year they haven't contracted -- and property sales remaining robust.

U.S. retail sales likely improved in July, though not as rapidly as in May or June. Rising Covid-19 case loads could have deterred shoppers from visiting brick-and-mortar stores, as well as bars and restaurants. The figures may help confirm other data showing the recovery has cooled.

 

(END) Dow Jones Newswires

August 09, 2020 15:14 ET (19:14 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.