In the week ahead, the U.S. will see data on retail sales and industrial production, while overseas, China will release its report on first-quarter gross domestic product and the eurozone will get a consumer confidence reading.
MONDAY: The Commerce Department releases data on March retail sales. In February, retail sales fell 0.1%, marking a three-month slide and presenting a puzzle given conditions including a booming job market and growing worker paychecks should translate into consumer spending. Economists will parse Monday’s report for signs of whether tax cuts and labor-market gains are starting to translate into higher spending. Economists surveyed by The Wall Street Journal expect retail sales increased 0.3% in March.
TUESDAY: China will release its first-quarter gross domestic product and monthly business activity data (release time is Monday evening in the U.S.) Economists expect the Chinese economy to have slowed only slightly to 6.7% growth in the first three months, from the 6.8% expansion in the fourth quarter. How to lower the country’s debt levels and control financial risks while keeping the economy growing at a steady pace is a key challenge for Beijing, especially when it is facing heated trade disputes with the U.S.
The Federal Reserve releases data on March industrial production. In February, industrial production rose 1.1% as American factories ramped up production, signaling healthy momentum in a key sector of the U.S. economy. Economists surveyed by The Wall Street Journal forecast industrial production rose 0.4% in March.
FRIDAY: Recent economic data out of the eurozone has been surprisingly weak, suggesting growth slowed during the first quarter. The European Commission’s measure of consumer confidence for April will give the first indication as to whether that soft patch is set to persist into the second quarter. Economists expect to see a drop to minus 0.3 from plus 0.1 in March. That would leave confidence at a relatively high level by historic standards, but could suggest the best of the eurozone’s recovery has passed.