UK & US share the limelight leading into weekend
There are several pieces of data set for release today, with the UK & US leading the way.
The UK are releasing Second Estimate GDP, Prelim Business Investment, Index of Services and CBI (Confederation of British Industry) Realised Sales data. The GDP figure is the most vital piece of data as it reflects growth in the UK economy, particularly important after their decision to leave the EU. Business Investment data is important as gives an indication of capital investments made by businesses and government. Realised Sales data is an index that reflects consumer spending trends within the economy.
The US is also releasing a few pieces of data in the early hours of tomorrow morning. They are releasing Goods Trade Balance, Prelim Wholesale Sales and Flash Services PMI. Goods Trade Balance in the difference in value between imported and exported goods. Prelim Wholesale Sales is the change in the total value of goods held in inventory by wholesalers and the PMI figure reflects the health and strength of the US services sector. US has their Thanksgiving holiday today as well.
Elsewhere, Japan is releasing SPPI (Services Producer Price Index) and BOJ Core CPI figures, while Europe is releasing Italian Retail Sales data.