U.S. Retail Sales, BOE, Wal-Mart, Cisco: Week Ahead Aug. 11-16

Aug. 11 (Bloomberg) -- U.S. retail sales probably increased in July for a sixth straight month, signaling the economy’s rebound in the second quarter will persist as the job market strengthens, a report this week is expected to show.

Industrial production in the world’s biggest economy increased in July, while American consumer sentiment probably picked up in early August.

The Bank of England releases its quarterly Inflation Report with new economic forecasts for the U.K. The euro area and Japan will publish second-quarter growth figures.

U.S. congressional primaries take place in Connecticut, Minnesota and Wisconsin.

Companies releasing earnings include Cisco Systems Inc., Macy’s Inc., Prudential Plc, Wal-Mart Stores Inc. and Tata Motors Ltd.


-U.S. government bond auctions, Fed debt purchases. Click here for weekly schedule.

-ECONOMY: Mexico industrial production (June), Lloyds U.K. employment confidence (July), Swiss retail sales (June), Estonia GDP (second quarter), Czech Republic CPI (July), Romania CPI (July), Romania industrial output (June), Latvia trade balance (June).

-EARNINGS: Priceline Group Inc., Tata Motors Ltd.


-Kerry, Hagel in Australia. U.S. Secretary of State John Kerry and Defense Secretary Chuck Hagel meet in Sydney with their Australian counterparts for annual consultations on security cooperation and regional and global issues. Times to be determined.

-U.S. congressional primaries in Connecticut, Minnesota and Wisconsin. Minnesota Republicans may pick investment banker Mike McFadden, who is backed by the U.S. Chamber of Commerce, to oppose Democratic Senator Al Franken in the general election. In Wisconsin, Republicans will choose a candidate for the 6th District seat of Republican Representative Tom Petri, who’s retiring. Click here for times polls close.

-ECONOMY: JOLTs U.S. job openings (June), U.S. monthly budget statement (July), Singapore GDP (second quarter), U.K. BRC retail sales monitor (July), ZEW German survey current situation/expectations (August), Hungary CPI (July), Slovakia CPI (July), Portugal CPI (July).

-EARNINGS: Prudential Plc, Henkel AG & Co. KGaA.


-U.S. retail sales probably increased in July for a sixth straight month, according to a Bloomberg survey, signaling the economy’s rebound in the second quarter will continue as the job market strengthens. The Commerce Department reports at 08:30 in Washington.

-The Bank of England releases its quarterly Inflation Report including new economic forecasts. Governor Mark Carney will give a press conference. 10:30 in London (05:30 EDT).

-Japan’s economy probably contracted in the second quarter from the previous three months after a sales tax increase. The government will decide by the end of this year whether to increase the tax to 10 percent from October 2015 as planned. 08:50 in Tokyo (08/12 19:50 EDT). Click here for the latest consensus estimate.

-China will announce industrial production and retail sales data for July and fixed-asset investment for the first seven months of 2014. Industrial output and investment growth picked up in June, as second-quarter economic growth accelerated for the first time in three periods. 13:30 in Beijing (01:30 EDT).

-New York Federal Reserve President William C. Dudley will give welcoming remarks at 09:05 at the New York Fed’s daylong Conference on the Risks of Wholesale Funding. His comments will be followed by a keynote speech by Boston Fed President Eric Rosengren. In New York.

-The Bank of Japan releases minutes from its July meeting, when the board kept policy unchanged and signaled confidence that inflation will reach the bank’s 2 percent target as forecast. 08:50 in Tokyo (08/12 19:50 EDT).

-Mexico central bank inflation report. Bank Governor Agustin Carstens will present the quarterly inflation report and economic forecasts. The central bank in June cut its key rate to a record-low 3 percent after reducing its 2014 GDP forecast. 12:30 in Mexico City (13:30 EDT).

-Nigerian Information Minister Labaran Maku and other lawmakers will brief reporters after their weekly cabinet meeting. They may comment on the spread of the Ebola virus. 14:00 in Abuja (9:00 EDT).

-ECONOMY: U.S. business inventories (June), U.K. ILO unemployment rate (June), U.K. claimant count rate (July), Germany CPI (July), France CPI (July), Spain CPI (July), euro-area industrial production (June), Swiss ZEW survey (August), Hungary industrial production (June), Poland current account balance (June), Poland CPI (July), South Africa retail sales (June), Ghana CPI (July).

-CENTRAL BANKS: Georgia refinancing rate.

-EARNINGS: Cisco Systems Inc., Deere & Co., Macy’s Inc., NetApp Inc., Cosan SA Industria e Comercio, Gol Linhas Aereas Inteligentes SA, Tencent Holdings Ltd., Oil & Natural Gas Corp., Cathay Pacific Airways Ltd., Merck KGaA, EON SE, Coloplast A/S, Commonwealth Bank of Australia.


-Euro-area second-quarter GDP. The zone’s economy probably expanded 0.3 percent in the quarter, according to a Bloomberg News survey of 31 economists. 11:00 CET (05:00 EDT).

-The Bank of Korea will review its policy rate after holding it unchanged for a 14th straight month in July as weakened consumer and business sentiment prompted the central bank and government to cut their forecasts for 2014 growth. 10:00 in Seoul (08/13 21:00 EDT).

-The Puerto Rico Electric Power Authority, the island’s main electricity supplier, faces a deadline to repay $671 million of bank loans after agreeing with creditors to delay payments due July 31. Prepa has $8.6 billion of debt and may be the first agency to use a new law in Puerto Rico giving it greater flexibility to restructure debts.

-Pope Francis arrives in South Korea for a five-day visit that includes attending World Youth Day as he seeks to shore up Catholicism in Asia, one of the most-promising growth areas for the Roman Catholic Church. Francis will be the first Pope to visit Asia in more than a decade as the Vatican looks to spread the church’s appeal in a region where it’s being challenged by the growth of evangelical Christian movements.

-ECONOMY: U.S. initial jobless claims (weekly), Bloomberg U.S. consumer comfort (weekly), Brazil retail sales (June), China foreign direct investment (July, unconfirmed), Japan machinery orders (June), U.K. RICS housing market survey (July), France GDP (second quarter), Germany GDP (second quarter), ECB monthly report, euro-area CPIs (July), Kazakhstan industrial output (July), Hungary GDP (second quarter), Poland GDP (second quarter), Slovakia GDP (second quarter), Romania GDP (second quarter), Czech Republic GDP (second quarter), Bulgaria GDP (second quarter), Central European ZEW confidence indicator (August), Portugal GDP (second quarter), South Africa mining production (June), Turkey current account balance (June).

-CENTRAL BANKS: Chile rate decision, Indonesia rate decision, Uganda rate decision.

-EARNINGS: Wal-Mart Stores Inc., Applied Materials Inc., J.C. Penney Co., Nordstrom Inc., Agilent Technologies Inc., Banco do Brasil SA, JBS SA, Lenovo Group Ltd., Telstra Corp., Singapore Telecommunications Ltd., China Mobile Ltd., RWE AG, Aegon NV, ThyssenKrupp AG.

-LPGA Championship. Inbee Park of South Korea begins the defense of her title at Monroe Golf Club in Pittsford, New York. Tee times and pairings to be confirmed. Through Aug. 17.

-Baseball. The Little League World Series begins, with the first game at 13:00 EDT in South Williamsport, Pennsylvania. Through Aug. 24.


-U.S. industrial production probably climbed in July, according to a Bloomberg survey, indicating stronger manufacturing on the heels of increased demand for motor vehicles and business equipment. The Federal Reserve releases the figures at 09:15 in Washington.

-U.S. consumer sentiment probably improved in early August as employers kept increasing head count and gasoline prices retreated, according to a Bloomberg survey. The Thomson Reuters/University of Michigan preliminary figures are released at 09:55 in Washington.

-Japanese Prime Minister Shinzo Abe may refrain from visiting the Yasukuni Shrine, which memorializes war dead including World War II criminals, as he seeks a summit with Chinese President Xi Jinping in November. Past visits to the Tokyo shrine by Abe and other leaders have sparked anger in China and South Korea. 08:00 in Tokyo. (08/14 19:00 EDT).

-South Africa’s Supreme Court of Appeal hears an application by President Jacob Zuma to overturn a High Court ruling that directs the National Prosecuting Authority to hand over tapes to the main opposition party that were cited as reasons for dropping graft charges against him. 10:00 in Bloemfontein (4:00 EDT).

-ECONOMY: U.S. producer price index (July), Empire manufacturing (Aug.), U.S. capital flows (June), Hong Kong GDP (second quarter), U.K. GDP (second quarter), U.K. index of services (June), Georgia PPI (July), Israel CPI (July), Turkey unemployment (May).

-CENTRAL BANKS: Colombia meeting minutes.

-SOVEREIGN RATING UPDATES: Abu Dhabi (Fitch), Angola (S&P), Austria (Fitch), Ireland (Fitch), Kuwait (S&P), Mozambique (S&P), Uganda (Fitch).

-EARNINGS: Estee Lauder Cos., Australia & New Zealand Banking Group Ltd.


-No major events scheduled.

To contact the reporters on this story: James Amott in London at +44-20-3216-4206 or jamott@bloomberg.net; Greg Miles in New York at +1-212-617-5877 or gmiles1@bloomberg.net; Jim McDonald in Tokyo at +81-3-3201-3190 or jmcdonald8@bloomberg.net To contact the editors responsible for this story: Andy Davidson at +1-212-617-8977 or adavidson@bloomberg.net Nancy Moran, Tal Barak Harif

Before it's here, it's on the Bloomberg Terminal.