Friday preview: All eyes on release of economic data

A batch of economic data out in the US, the UK and Europe will steal headlines Friday.

A batch of economic data out in the US, the UK and Europe will steal headlines Friday.

In the US, the Chicago purchasing manager's index (PMI) will be released for May. The PMI slumped to a three-and-a-half year low of 49 in April, down from 42.4 in March. A figure below 50 signals contraction.

The nation's University of Michigan Confidence results will also be unveiled.

It will come a day after data showed the US economy expanded less the estimated in the previous quarter, reflecting slower inventory building and cutbacks in government spending.

Gross domestic product rose at a 2.4% annualised rate, according the Commerce Department, missing the 2.5% estimate.

In Europe, the unemployment rate will be revealed as the region continues to tackle its struggles with the number of jobless, particularly among young people.

European Union (EU) leaders this week joined forces to discuss a strategy to fix the soaring youth unemployment rates, which exceeds 50% in some countries.

The French, German and Italian governments came together to launch initiatives to "rescue an entire generation" who fear they will never find jobs.

More than 7.5m young Europeans aged between 15 and 24 are without jobs, education or training, according to EU data.

Meanwhile, the UK will be swamped with a plethora of economic data including mortgage approvals and consumer credit.

The results will follow the release of this week's British Bankers Association figures on mortgages which showed a three-month high in April.

Friday May 31th

INTERIM DIVIDEND PAYMENT DATE

Mcbride, Next Fifteen Communications

QUARTERLY PAYMENT DATE

City of London Inv Trust

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Balance of Payments (GER) (07:00)

Chicago PMI (US) (13:45)

Consumer Price Index (EU) (10:00)

Retail Sales (GER) (07:00)

U. of Michigan Confidence (US) (15:00)

Unemployment Rate (EU) (10:00)

FINALS

Fastjet, LondonMetric Property

SPECIAL DIVIDEND PAYMENT DATE

ITV

AGMS

Caledonia Mining Corporation, Leyshon Resources Ltd., New Britain Palm Oil Ltd. (DI), PXP Vietnam Fund Ltd., Telefonica SA

UK ECONOMIC ANNOUNCEMENTS

Consumer Credit (09:30)

M4 Money Supply (09:30)

M4 Sterling Lending (09:30)

Mortgage Approvals (09:30)

Trends in Lending (09:30)

FINAL DIVIDEND PAYMENT DATE

Alkane Energy, BG Group, Bilfinger Berger Global Infrastructure Sicav S.A.(DI), Cobham, Croda International, CSR, Dunedin Income Growth Inv Trust, Elementis, EP Global Opportunities Trust, F&C Private Equity Trust, Ferrexpo, Glanbia, Henderson Group, Henderson Private Equity Inv Trust, Henry Boot, Highcroft Investment, InterContinental Hotels Group, IS Solutions, ITV, Keller Group, Morgan Advance Materials , Ocean Wilsons Holdings Ltd., Old Mutual, Regus, Senior, SIG, Smart Metering Systems, SQS Software Quality Systems AG, Weir Group

Q1

Frontline Ltd

RD

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