Highlights
UK retail sales in May are expected to fall 0.2 percent on the month following a broad-based but still limited 0.5 percent rebound in April.
In Germany's purchasing managers' index data, manufacturing has contracted for 11 months in a row and, at 43.2, very deeply so in May, with no significant improvement expected for June, where the consensus is 43.5. Services in contrast, which have been over 50 for the past five months and firmed more than a point in May to 57.2, is seen at 56.6.
In the Eurozone, after May's 44.8 for manufacturing 55.1 and for services, the consensus estimates for June's PMI readings are 44.9 and 54.8 respectively. Manufacturing has been in contraction for the last eleven months straight with services in expansion for the last five.
In the UK, the services PMI, at 55.2 in May, has held solidly above 50 the last four months, with 54.6 the expectation for June. Manufacturing, which has been in sub-50 contraction for 10 months in a row, is seen at 46.5 versus 46.9.
As for the US PMI data, no significant change is seen in June compared to May; manufacturing underperforming at 48.5 and services leading the way at 53.5.
Cleveland Federal Reserve Bank President Loretta Mester will give closing remarks before the Policy Summit 2023: Communities Thriving in a Changing Economy conference hosted by the Federal Reserve Bank of Cleveland at 1:40 p.m. EDT (1740 GMT).
In Germany's purchasing managers' index data, manufacturing has contracted for 11 months in a row and, at 43.2, very deeply so in May, with no significant improvement expected for June, where the consensus is 43.5. Services in contrast, which have been over 50 for the past five months and firmed more than a point in May to 57.2, is seen at 56.6.
In the Eurozone, after May's 44.8 for manufacturing 55.1 and for services, the consensus estimates for June's PMI readings are 44.9 and 54.8 respectively. Manufacturing has been in contraction for the last eleven months straight with services in expansion for the last five.
In the UK, the services PMI, at 55.2 in May, has held solidly above 50 the last four months, with 54.6 the expectation for June. Manufacturing, which has been in sub-50 contraction for 10 months in a row, is seen at 46.5 versus 46.9.
As for the US PMI data, no significant change is seen in June compared to May; manufacturing underperforming at 48.5 and services leading the way at 53.5.
Cleveland Federal Reserve Bank President Loretta Mester will give closing remarks before the Policy Summit 2023: Communities Thriving in a Changing Economy conference hosted by the Federal Reserve Bank of Cleveland at 1:40 p.m. EDT (1740 GMT).
Definition
Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.
Description
Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.
