Good morning and welcome to Money Minute,
where we preview the day’s biggest financial stories.
In the eurozone this morning, we get region-wide data on retail sales for November, as well
as the December figure for inflation. Retail sales are expected to have grown by
about 1% year on year, with Spain and France showing the biggest gains.
Meanwhile, eurozone-wide inflation is expected to come in at around 1.3%. That’s still
well below the European Central Bank’s target
of just below 2%. That means we can expect to see money printing
in the eurozone for the foreseeable future. In the US this afternoon, we get the latest
reading on the health of the services sector. As with everywhere else in the world, US manufacturing
is struggling. The most recent survey suggested that activity in the sector
in December was weaker than at any point since 2009.
However, the services sector is far more important in terms of economic impact, and so far
has remained healthy. Researchers at Capital Economics expect the
survey to rebound from November’s reading of 53.9, to above 55, indicating solid growth.
See you next time!