June 22

• UK Consumer Confidence (May) EU/GfK
• UK Institutional Investment (Q1)
• Harvey Nichols (F)

June 23

• UK National Accounts (Q1)
• UK Balance of Payments (Q1)
• Majestic Wine (F)

June 24

• US Durable Orders (May)

June 25

• UK UK Trade (world) (April) non- EU (goods only) May
• UK Harmonised Index of Consumer Prices (Feb)
• UK Industrial Trends (June)
• UK Bank Mortgage lending
• US GDP (F) Q1
• US Corporate Profits (F) Q1
• Germany - Bundesbank meets
• Asda (F)

June 26

• UK House Prices (June) Nationwide
• US Personal Income & Expenditure (May)

German and Japanese figures expected sometime this week:
GER Consumer Prices (Jun) WG
GER Import Prices (May)
JAP Trade Balance (May)

There are two important indicators published on Tuesday; National Accounts for Q1, and the Balance of Payments for Q1.

The National Accounts will provide the second revision to the GDP growth statistics for Q1 published at the end of April. They were revised upwards in May's Output, Income & Expenditure data to 2.9% from 2.8 % and growth in the quarter was revised up to 0.5% from 0.4%.

Even if there is a further small upward revision, the figures suggest that the UK is experiencing a reasonable and fairly unthreatening rate of growth.

The Balance of Payments figure for Q1 will reflect the UK Balance of Trade over the first quarter.

The trade has deteriorated in recent months as the export of goods fell and imports rose.

There was a similar story in services, officially attributed to an increase in expenditure abroad by UK residents.