Friday preview: UK GDP, US consumer confidence in focus

updated: 11 June 2020 at 12:02pm Author: Alexander Bueso

(Sharecast News) - The focus at the end of the week will be on the UK with the latest reading on gross domestic product potentially set to make for worrisome reading.
A report from the Office for National Statistics at 0930 BST is expected to show that GDP crashed at a month-on-month pace of 17.5% in April.

Consensus is for other data due out alongside to reveal a 13.5% drop in industrial production for April, together with a 15.5% slump in factory production and a 24% crash in construction activity

Services output meanwhile is expected to be down by 13.5%.

Stateside meanwhile, the University of Michigan's preliminary reading on US consumer confidence for June is expected to show a rebound in the closely-followed index from a reading of 72.3 for May to 76.0.

Across the Channel, the main release due out is on euro area industrial production in April.

Final readings on consumer prices in France, Spain and Portugal are also scheduled for release with the latter two expected to show those countries already well into deflation.

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