Economy Week Ahead: Consumer Prices, GDP, Retail Sales
August 09 2020 - 03:29PM
Dow Jones News
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)
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