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Japan’s trade deficit largest for eight years

Chris Scicluna
Emily Nicol
  • Japan machine orders point to subdued recovery in private sector capex in Q2
  • UK CBI manufacturing survey to flag challenges amid supply constraints and higher prices

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UK inflation rises to series high

Chris Scicluna
Emily Nicol
  • Japanese GDP contracted in Q1, but economy fared slightly better than expected
  • Reuters Tankan paints mixed picture for business conditions in May
  • Euro area inflation set to be confirmed at record high, auto sales slump in April

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Despite weakening growth, UK labour market tightens further

Chris Scicluna
Emily Nicol
  • Buoyant wage growth flags likely to persuade MPC to raise rates again next month
  • Japanese tertiary activity boosted by lifting of restrictions, but still down in Q1
  • Euro area updated Q1 GDP to confirm growth of 0.2%Q/Q

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Zero-Covid strategy whacks Chinese economic activity

Chris Scicluna
Emily Nicol
  • Japan’s PPI inflation jumps to a more-than 4-decade high, as the weaker yen exacerbated imported price pressures
  • Japanese CPI inflation set to jump to 3-decade high
  • Bailey to be grilled in Parliament 

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French EU-harmonised CPI rises, while Spanish HICP bucks the trend

Emily Nicol
Chris Scicluna
  • Euro area IP data to confirm weak March but positive growth over Q1 as a whole
  • US focus today on consumer confidence and import prices

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