Unemployment in the U.K. fell to the lowest level since April 2009, China’s economy cooled and U.S. sales of existing homes last year were the strongest since 2006, economic reports are projected to show this week. Elsewhere, price data will dominate, with Brazil likely to show consumer inflation in the month through mid-January rising by the most in a year, while pricing power in Australia also picked up in the fourth quarter.
Gains in consumer spending probably continued to drive the U.S. economic expansion at the end of 2013 as sales at non-auto retailers climbed during the holidays. Elsewhere, inflation in the U.K. probably held at a four-year low in December, Brazil’s central bank may slow the pace of monetary tightening, and Australia’s employment growth cooled.
Britain probably had its strongest economic growth in more than three years in the third quarter, paving the way for the Bank of England to concede that interest rates may have to rise sooner than it initially forecast.