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Week ahead: markets checking for damage

Credit: Reuters - Business (Amazon FireT
Published on May 13, 2019 - Duration: 01:29s

Week ahead: markets checking for damage

Industrial production in the US and China, retail sales from both, plus German GDP: markets shaken by recent recent sell-offs get vital readings this week on how badly US/China trade tensions have hit the economy.

David Pollard reports.

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Week ahead: markets checking for damage

High profile, high vis .... The German chancellor - on a tour of Hamburg's container terminal last week ... Had global trade on her mind.

Little guessing perhaps that by the start of this week, it would be only thing on the mind of markets.

(SOUNDBITE) (German) GERMAN CHANCELLOR, ANGELA MERKEL, SAYING (on FREE TRADE): "Here you can see many things which currently concern us, such as the fact that we are all connected in the world ....." It's the impact of the recent disconnect between the US and China that will be in focus.

China's industrial production numbers figure on Wednesday ... Which - with manufacturing and industrial production - is also a big data day for the US.

The UK gets its latest employment numbers on Tuesday .... Along with any hurt from protectionism, look for signs of Brexit damage - or possibly not in a labour market that appears immune to uncertainty.

Also on Wednesday come Germany's flash Q1 GDP numbers .... Hot on the heels of a euro zone downgrade to its growth outlook last week - from 1.3 to 1.2 per cent for this year.

(SOUNDBITE) (English) EUROPEAN COMMISSIONER FOR ECONOMIC AND FINANCIAL AFFAIRS, PIERRE MOSCOVICI, SAYING: "Every member state's economy is expected to continue growing over this year and next albeit at a slower pace." The other question this week: how strong is the consumer?

China post its retail sales on Wednesday.

As does the US - where Ralph Lauren, Macys and Walmart are also due to report earnings .... In what could - for markets - be a nervous week at best.

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