After the US macro data earlier in the week, attention swings back to the UK with GDP numbers for February expected to show a slight rise in February.
Britain sank into a technical recession late last year but economic growth has since been tipped to return, albeit slowly.
Friday’s GDP reading for February should confirm this, according to Trading Economics, which forecasts growth of 0.1% over the month, following a -0.1% contraction in January.
EY ITEM Club analysts noted public sector strikes would cap first-quarter GDP ahead of the figures.
“Lower inflation, rising real incomes and actual and prospective cuts in taxes and interest rates should see momentum in the economy continue to build this year,” it added.
In the US, bank season also kicks off with JP Morgan, CIti and Wells Fargo the heavyweights reporting.
Announcements due:
US earnings: BlackRock Inc (NYSE:BLK) (BlackRock Inc (NYSE:BLK)), CitiGroup Inc, JPMorgan Chase & Co (NYSE:JPM, ETR:CMC) (JPMorgan Chase & Co (NYSE:JPM, ETR:CMC), JPMorgan Chase & Co (NYSE:JPM, ETR:CMC)), Wells Fargo & Co (NYSE:WFC, ETR:NWT) (Wells Fargo & Co (NYSE:WFC, ETR:NWT), Wells Fargo & Co (NYSE:WFC, ETR:NWT))
AGMs: SigmaRoc PLC (AIM:SRC) (SigmaRoc PLC (AIM:SRC))
Economic announcements: Gross Domestic Product (UK), Balance of Trade (UK), Index of Services (UK), Industrial Production (UK), Manufacturing Production (UK), Import and Export Price Indices (US), Preliminary University of Michigan Confidence (US)